18. Technology is costly …. The Solution lies in Networking Smart Card - A great technological challenge Collaboration
19. TECHNOLOGY INITIATIVES “ PARAM” By Ogilvy & Mather ELECTRONIC KNOWLEDGE DELIVERY By M.S.Swaminathan Research foundation e-CHOUPAL By ITC
20. -Account Opening -Transactions Data Captured Through Labtop & POS/POT Service provider Intermediate Server Activity is Performed by BC - Laptop for A/c opening POS/POT for transactions Security Equipment FIN CBS Server Service Provider’s (Intermediate Server File converted into format of CBS Data is uploaded into FIN-CBS Interest Calculation done centrally and the details sent back to POS and inserted to the smart card of customer Villages Data Flow Block Diagram of Financial Inclusion
WHY FINANCIAL EXCLUSION HAPPENS Some of the barriers to starting a banking relationship are:- Fear of banks (environment and staff) Fear of temptation (and getting into debt) Fear of failure (or lack of confidence that they will achieve a successful outcome)
Financial Exclusion spiral Core Exclusion : Who operate their financial affairs completely outside the regulated financial system Limited Access: May have a basic bank account but poor financial habits and little advice Included but using inappropriate products : Victims of inappropriate products.
Financial Inclusion - Scope Financial Inclusion is delivery of banking services at an affordable cost to the disadvantaged and low income group. 60% of rural and 40% of urban poor sections are deprived of financial services in India.
The first legislation on co-operation was passed in 1904, The first urban co-operative bank in India was formed nearly 100 years back in Baroda stated reason for the nationalization was to give the government more control of credit delivery 19 th july, 1969 The Service Area Approach (SAA) introduced in April 1989 to (all rural and semi-urban branches of banks were allocated specific villages, generally in geographical contiguous ) The establishment of the Regional Rural Banks (RRBs) was initiated in 1975
