Indicus Centre for Financial Inclusion

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Financial Inclusion - News and Views - January 2013

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January 2013

The monthly newsletter from the Indicus Centre for Financial Inclusion documents the latest news and views in the financial inclusion space, to provide a knowledge base that will help build understanding around how to accelerate the poor’s access to high-quality financial services.

This month we focus on the Indian government’s recent announcement to fast track direct cash transfers through Aadhaar-linked bank accounts. This move can have profound implications for expanding financial inclusion in India. The lead stories include a) two articles that bring out the link between the direct cash transfer scheme and financial inclusion and b) a research study by Zimmerman, Ravi and Tosh of the New America Foundation that looks at global experiences in creating financially-inclusive G2P models.

Lead Stories

From Cash Transfers to Inclusion

This two part series by Sumita Kale explains the link between the programme of direct cash transfers and inclusion and examines the business case for banks in providing government payments.

From Protection to Investment: Understanding the Global Shift to Financially-Inclusive Social Protection Payment Systems

This paper by Jamie M. Zimmerman, Anjana Ravi and Nicole Tosh provides an overview and initial assessment of the largest and most detailed global data set on financially-inclusive G2P models. It also offers a preliminary analysis of opportunities, challenges and recommendations to enable and encourage asset building among cash-transfer recipients.

Section I: Policy – the latest from India’s policymakers

Contemporary Issues in Banking: Reflections on Viewpoints of a Bank Economist

Dr. K. C. Chakrabarty, Deputy Governor, RBI, December 30, 2012.

Mapping of Gram Panchayats and Planning for BCA/CSCs for Direct Cash Transfer – Sub Service Area Approach

Notification by Department of Financial Services, Ministry of Finance, December 20, 2012.

Technology Enabled Transformation in the Financial Sector

Mr. G. Padmanabhan, Executive Director, Reserve Bank of India, December 17, 2012.

Mid-Year Economic Analysis 2012-2013

Department of Economic Affairs, Economic Division, Ministry of Finance, December 17, 2012.

Transit Path for Indian Economy: Six Steps for Transforming the Elephant into a Tiger

Dr. K. C. Chakrabarty, Deputy Governor, Reserve Bank of India, December 7, 2012.

Section II: News and Views Digest – the latest from India and abroad

India

Government aims at complete financial inclusion

Go to any bank to put money in your account

Govt mulls financial inclusion through CSCs

India has not scored well on financial inclusion of the poor, says RBI Deputy Governor

Saral Money a step towards cash transfers, UID & financial inclusion

IDBI Bank launches 'Urban Financial Inclusion Programme' at Dhobi Ghat

Everyone has right to banking, says FM

Banks look to counter cash subsidy rush with ATMs

100% financial inclusion in Pondy?

The cost of financial inclusion

AP Grameena Vikas Bank's financial inclusion drive

Rockstar of financial inclusion: Business Correspondent model of India

International

Behavioral insights to advance financial inclusion -- or why Swedes are not necessarily better human beings than Danes

Mobile banking to plug gaps in financial inclusion

"Momentum behind financial inclusion," says Ehrbeck

Section III: Research – surveys and studies on expanding access to financial services

A Digital Pathway to Financial Inclusion

Daniel Radcliffe and Rodger Voorhies, December 2012, Bill and Melinda Gates Foundation.

The Foundations of Financial Inclusion : Understanding Ownership and Use of Formal Accounts

Franklin Allen, Asli Demirguc-Kunt, Leora Klapper and Maria Soledad Martinez Peria, Policy Research Working Paper 6290, December 2012, The World Bank.

Fraud in Mobile Financial Services

Joseck Luminzu Mudiri, November 2012, MicroSave.

Editor: Sumita Kale can be contacted at sumita@indicus.net.
The Indicus Centre for Financial Inclusion was launched in 2011 to distill and disseminate information on accelerating the poor’s access to high-quality financial services. The Centre is supported by the Bill & Melinda Gates Foundation. www.indicus.net

©Indicus Centre for Financial Inclusion. All rights reserved. 31st December 2012.