Independent Research and Policy Advocacy

Local Address Proof no longer a bottleneck to account opening

Customers attempting to open a savings bank account in a scheduled commercial bank will no longer require to furnish proof of current address if the customer is staying at a location that does not correspond with that of his or her permanent address.

A Picture of India’s Financial Depth

The CCFS Report has laid out a vision for Sufficient Access to Affordable Formal Credit that places a goal of achieving a Credit to GDP ratio for each district of atleast 10% by January 1, 2016, and to cross 50% by January 1, 2020.

India Rural Development Report

A few months earlier IDFC Foundation had prepared the “India Rural Development Report 2012/13” which provided a wide perspective on the rural landscape covering the Rural dynamics, Livelihoods, Inclusion, Infrastructure, Sustainability and a review of major central government rural programmes and schemes and, in particular, the flagship MGNREGA.