CM to release ‘Financial Inclusion Index Report’

Chief Minister Shivraj Singh Chouhan will release the “Financial Inclusion Index Report” on July 29 at 4 pm at Kushabhau Thackeray International Convention Center. Deputy Governor of Reserve Bank of India will also be present on the occasion. The report has been prepared by Atal Bihari Vajpayee Institute of Good Governance and Policy Analysis. A seminar will be organised after the release of the report.

Vice President of the Institute Prof Sachin Chaturvedi pointed out that the Government of India and the Reserve Bank of India have collectively taken several steps to ensure financial inclusion. The core strategy of India has been to develop effective financial access of Jan Dhan accounts to the common citizens through jam trinity, Aadhaar digital ID and mobile phones. The Reserve Bank of India (RBI) has envisioned ‘Banking for all’. The central bank has worked to intensify competitive banking with the issuance of new banking licenses.

Madhya Pradesh has decided to take this agenda forward by taking measures at the state and district level. The state has made efforts to expand digital financial services by including direct account transfers in all major beneficiary oriented government schemes. Madhya Pradesh has taken concrete steps to link Pradhan Mantri Jan-Dhan Yojana accounts with Aadhaar to prevent the possibility of financial leakages.

AIGGPA worked out an index to measure the level of financial inclusion in all districts. This index can be specifically used to help the marginalized section of the society through the availability of effective financial products and services.

Big financial service providers including commercial banks, state government officials, non-banking financial companies, NGOs working in the field of financial literacy, NABARD, RBI, SIDBI, SHGs, academicians will be present in the programme.