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The delivery infrastructure that supports social protection is in serious need of upheaval and is fraught with issues such as paucity of access points, operational issues causing transaction failure, and unethical activities like fraud.
More than half the payment failures may be due to incorrect Aadhaar details, or bank accounts that are wrongly flagged as inactive
Social enterprises will have to conform to much higher standards of reporting than they are conventionally used to. Read more at: https://www.bqprime.com/opinion/a-social-stock-exchange-for-india Copyright © BQ Prime
As an impact metric, it is relevant for financial inclusion and other development programmes
DBT schemes are meant to ride on digital rails to facilitate smooth direct cash transfers. However, transfers are not always smooth.
By requiring only limited public reporting on asset quality, banks in India have enjoyed a level of opacity that banks in other jurisdictions do not
While the system was rightly designed to eliminate ghost beneficiaries, the impact of exclusion errors needs to be professionally and independently evaluated in detail.
An RBI Working Group has suggested that lending service providers be disallowed from providing credit enhancements such as FLDG (first-loss-default-guarantee). However, a risk-proportionate regulation of FLDG could address its risks, while allowing the ecosystem to benefit from innovation.
In India, the direct benefit transfer (DBT) system has gained enormous acceptance as a method of delivering welfare to the most deserving. It has been the main instrument of governments’ social protection response to the COVID-19 pandemic.
The study is authored by Aarushi Gupta, senior research associate at Dvara Research. Bindu Ananth, co-founder and chair of Dvara Trust. Bindu Ananth and Hasna Ashraf are fellow, Lancet Citizen’s Commission on Reimagining India’s Health Systems.
In all our research efforts, we strive to maintain an independent voice that speaks for the low-income household and household enterprises. Our ability to perform this function is significantly enhanced by our commitment to disseminate as a pure public good, all the intellectual capital that we create.
