Financial Inclusion Metrics - Youth Destination IAS

Financial Inclusion Metrics - SBI Report According to a report by State Bank of India (SBI), India has now overtaken China in the financial inclusion scenario/Financial Inclusion Metrics. Financial inclusion means individuals and businesses have access to useful and affordable financial products and services that meet their needs. Key findings of SBI's recent report The number of bank branches per one lakh adults in India increased from 13.6 in 2015 to 14.7 in 2020. This is more than Germany, China and South Africa. Mobile and Internet banking transactions per thousand adults increased to 13,615 in the year 2019 from 183 in the year 2015. There has been a clear decline in crimes in the states which have high balance in Pradhan Mantri Jan-Dhan Yojana (PMUDY) accounts. There has been a statistically significant and economically significant decline in the consumption of narcotic substances such as alcohol and tobacco products in such states. The Banking Correspondent (BC) model has gradually eliminated the need for setting up physical branches. It may be noted that at present the number of banking outlets in villages has increased from 34,174 in March 2010 to 12.4 lakh in December 2020. PMJDY is a national mission launched for financial inclusion. It aims to ensure affordable access to financial services i.e. a basic savings and deposit account, remittance, credit, insurance and pension. Under this scheme, a Basic Savings Bank Deposit Account can be opened in any bank branch or Business Correspondent (BC) outlet by individuals who do not have a bank account. Source- The Hindu MORE CURRENT AFFAIRS

Current Affairs Financial Inclusion Metrics

Financial Inclusion Metrics – SBI Report

Register for Admission

Mains Answer Writing Practice

रणनीतिक विनिवेश से क्या तात्पर्य है?

What is meant by Strategic Disinvestment?

Explaining the significance of animal husbandry in rural development

ग्रामीण विकास में पशुपालन के महत्व की व्याख्या करते हुए सुझाव दीजिए

Recent Current Affairs (English)

International Energy Agency’s Coal 2023 Report

Mitochondrial Diseases

Economic pact between India and EFTA States

India – Oman Relation

Current Affairs (हिन्दी)

अंतर्राष्ट्रीय ऊर्जा एजेंसी की कोयला 2023 रिपोर्ट

माइटोकॉन्ड्रियल रोग

भारत और ईएफटीए राज्यों के बीच आर्थिक समझौता

भारत-ओमान संबंध