High level Committee on financial inclusion

By Vijay Kumar

The government has constituted a high level committee headed by Dr. Ranagarajan

i) To study the pattern of exclusion from access to financial services disaggregated by region, gender and occupational structure.

ii) To identify the barriers confronted by vulnerable groups in accessing credit and financial services, including supply demand and institutional constraints.

iii) To review the international experience in implementing policies for financial inclusion and examine their relevance/applicability to India.

The Committee will suggest

i) strategy to extend financial services to small and marginal farmers and other vulnerable groups, including measures to streamline and simplify procedures, reduce transaction costs and make the operations transparent.

ii) measures including institutional changes to be undertaken by the financial sector to implement the proposed strategy of financial inclusion.

iii) a monitoring mechanism to assess the quality and quantum of financial inclusion including indicators for assessing progress.