Financial Inclusion

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Submitted By guruswami
Words 8127
Pages 33
Issue 1 - September 2012
Department of Financial Services Ministry of Finance Government of India

Banking, Insurance, Pension
A Journal of the Department of Financial Services

Theme :

Financial Inclusion

Contents
• Editorial and Messages • Financial Inclusion • Recent developments in Banking • Recent developments in Insurance • Recent developments in Pensions • Important appointments

Publication issued by the Department of Financial Services, Ministry of Finance, Government of India

odern economies depend upon efficient allocation and optimal utilisation of savings and credit. Banks, Insurance companies and Financial Institutions (FIs) play a pivotal role in undertaking this function and ensuring that high economic growth is sustained. In India, these institutions have facilitated the growth in the economy and have displayed remarkable resilience in the post financial crisis period. In the recent past, though the Indian economy has slowed down, Financing, Insurance, Real Estate and Business Services continue to record impressive growth of over 9 per cent. To improve the functioning of various FIs, the Department of Financial Services (DFS) has taken several initiatives and many more on the anvil. These include steps aimed to achieve effective financial inclusion, improve flow of agriculture credit and lending to minorities and for education, payments and receipts through electronic mode, infrastructure financing, debt recovery, timely settlement of insurance claims, customer grievance redressal, pension reforms etc. The Banking, Insurance and Pension - A Journal for the Financial Services will be published at the beginning of every quarter with a view to effectively disseminate the developments in the financial services sector. Each issue covers a specific theme. The theme of the first issue is Financial Inclusion. Insurance for the masses would…...

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