Fresh Credit Decisioning Ideas Needed For Final Push Towards Financial Inclusion
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For two decades, India has doubled down on the policy prescription of providing financial ‘last-mile access’ to its rural and poor citizens. Has the effort succeeded? It depends on who you ask.
Life insurance and the importance of proper disclosures
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This will inspire more consumer trust, and enhance transparency among agents
Women’s financial inclusion is not understood
Policymakers should go beyond economics to look at sociological and anthropological aspects of how women negotiate finance.
Why customer protection is central to financial inclusion
India needs a robust and comprehensive financial customer protection regime, which it currently lacks. Imagine the following scenario. Raja and Rani are a low-income householder couple with two children in elementary school. They also take care of Raja’s ailing mother. The household’s monthly income is ₹20,000.
Digital Deception: Navigating the maze of social engineering frauds in the age of instant transactions
These fraudulent messages have proliferated during the pandemic, where fraudsters induce panic or excitement that impairs the customers’ ability to think clearly.
Let’s not conflate microfinance with self-help-group financing
The microfinance industry has witnessed moves by the Reserve Bank of India (RBI) to revise the regulatory framework (March 2022) for it and also caution it against an exclusive focus on business growth (November 2022).
Tackling customer protection issues in life insurance for low-income households
Insurance companies should align their sales practices to generate the best outcomes for low income households by ensuring easy access to a variety of products with disclosures that provide accurate information.
G20 meeting echoed importance of digital public infrastructure but there are four challenges
The promise of SP-ODEs is compelling but it is worth reiterating that deploying them would not automatically translate into better welfare delivery.
Financial Services Can Be More Humane
Tremendous efforts have gone into creating new authoritiessuch as the Central Consumer Protection Authority.
Why financial service providers, policy makers must evolve to better serve low-income households
Low-income households work with irregular income inflows, resulting in shrinking financial planning horizon and necessitating frequent decisions in response to frequent changes.