Financial inclusion or inclusive financing is the delivery of financial services at affordable costs to sections of disadvantaged and low-income segments of society, in contrast to financial exclusion where those services are not available or affordable. An estimated 2.5 billion working-age adults globally have no access to the types of formal financial services delivered by regulated financial institutions. For example in Sub-Saharan Africa only 24% of adults have a bank account even though Africa’s formal financial sector has grown in recent years. It is argued that as banking services are in the nature of public good; the availability of banking and payment services to the entire population without discrimination is the prime objective of financial inclusion public policy.
Related Posts
Recent Posts
- An Overview of Exploring SIDBI Schemes for MSME Success
- NSE SME to Main Board – Harnessing the Benefits of SME IPOs
- Impact of Entity DigiLocker Services for MSMEs & Many More
- MSME Competitive LEAN Scheme Empowers Small Manufacturers
- Will Fintech Lending Dominate Traditional Business?
Categories
- MSME Ecommerce
- MSME finance
- MSME Finance Guide
- MSME finance/ Block chain based funding
- MSME finance/ Invoice financing for MSME/ Short-term loans
- MSME Financing Gap
- MSME financing guide/ Nasdaq
- MSME Supply Chain Finance
- Opinion
- Policies & Updates
- Regulations & Compliance
- Schemes & Programs
- Startup Business
- UOB,OCBC and SME Business loans