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PACS: Foot Soldiers To Financial Inclusion or PACS: Bringing New Life To Rural Economy Through Financial Inclusion

This document discusses the role of Primary Agricultural Credit Societies (PACS) in promoting financial inclusion in rural India. It first provides an overview of financial inclusion levels based on data from the Reserve Bank of India and compares India's levels to other world economies. It then discusses various initiatives by the RBI and Indian government to increase access to banking in rural areas, such as no-frills accounts, relaxed KYC norms, and the Jan Dhan Yojana program. Finally, it argues that strengthening PACS can help address ongoing challenges to financial inclusion by banking on their presence across rural communities and the advantages they provide for the target audience.

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Ashish Reborn
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88 views2 pages

PACS: Foot Soldiers To Financial Inclusion or PACS: Bringing New Life To Rural Economy Through Financial Inclusion

This document discusses the role of Primary Agricultural Credit Societies (PACS) in promoting financial inclusion in rural India. It first provides an overview of financial inclusion levels based on data from the Reserve Bank of India and compares India's levels to other world economies. It then discusses various initiatives by the RBI and Indian government to increase access to banking in rural areas, such as no-frills accounts, relaxed KYC norms, and the Jan Dhan Yojana program. Finally, it argues that strengthening PACS can help address ongoing challenges to financial inclusion by banking on their presence across rural communities and the advantages they provide for the target audience.

Uploaded by

Ashish Reborn
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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PACS : Foot soldiers to financial Inclusion

Or
PACS : Bringing new life to rural economy through
Financial Inclusion
Introduction :
To Financial inclusion who all are included, composition based on areas
and if possible then income, Rural economy and Rural Banking sector (a
small introduction to PAC) and its growth analysis (w. r .t population,
income, poverty level)

Financial Inclusion Survey :


Based on RBIs Data on year to year (India alone)
Indias Financial Inclusion w. r .t world economies

Index to Financial inclusion:


1. Relation to Banking Variable (Opportunity)
2. Relation of Financial inclusion index with index of Poverty level, HDI,
Corruption index other social economic index
3. Relation to Rural GDP

RBI Initiatives & Current Govt Schemes :


No Frill Accounts, Relaxation to KYC, BC appointment. KCC , financial
literacy and etc
Jan Dhan Yojana, UPAs Pilot run and its outcome from the past ( w. r .t
poverty index , literacy or _____Advice____

Future of Financial Inclusion : Direct Cash & Subsidy transfer .


Future of economy

Problems in Financial inclusion and banking industry: talk


about current challenges

How PACS will help: PACS Detail , Analysis of Pac


Presence composition, Target audience vs. Pacs presence data, Advantage
of pacs
rejuvenating the PACS
Govt current spending in financial inclusion & PACS to keep system
running

Conclusion:

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