Search Result for : Financial Inclusion

Sharath Chowdary Bringing about the concept of financial inclusion once again into our consciousness, Telangana and Andhra Pradesh Governor E S L Narasimhan said that money lending institutions should include technological working to reach out to the poorest of the poor who deserve help in every sense of the term. There is dearth of reaching out to the needy who “die unheard of because they are not able to support their ideas". This was an emotional appeal from the Governor during his inaugural speech at the national summit on microfinance organised by ASSOCHAM in Hyderabad on Tuesday. Microfinance institutions have a greater responsibility in making the ‘Make in India’ initiative successful, Narasimhan said. Laying responsibility on the microfinance institutions in bringing about an ethical change ...

Sharath Chowdary Devaluation of the rupee may not boost exports from India. But in all likelihood, it will have an inflationary impact offsetting any benefit to the country’s economy. The current value of rupee is pretty reasonable, the Reserve Bank of India Governor Raghuram Rajan said. This was in reply to a question posed by The Dollar Business Bureau, if there was any need to devaluate the rupee to increase exports from the country, given the current scenario of global economic slowdown. Detailing the side effects of rupee devaluation, he said, “Currency is a complicated animal. Inflation will pick up in the country due to devaluation. Cheaper prices may allow exporting more but it also makes imports costlier. We need to pay ...

Source: PTI Finance Minister Arun Jaitley yesterday met Australian Prime Minister Malcolm Turnbull as he highlighted the potential of the Indian economy to grow beyond the current rate of 7.6 per cent and the large scope for higher economic exchanges between the two nations. During the meeting in Canberra, Turnbull expressed interest in cooperating with India in renewable energy sector where Australia has expertise.Jaitley also extended an invitation to Turnbull to visit India. The Finance Minister also met his Australian counterpart Mathias Cormann at a luncheon meet. Jaitley reached the Australian capital yesterday after a two-day stay in Sydney where he inaugurated the 'Make in India' conference. The Finance Minister is scheduled to address the K R Narayanan Oration series for this year at ...

Source: PTI Prime Minister Narendra Modi addressing the National Conference of Dalit Entrepreneurs, organised by the DICCI, in New Delhi on Tuesday   Underlining that financial inclusion is the government’s core focus, Prime Minister Narendra Modi on Tuesday said banks have given loans worth Rs.50,000 crore to small entrepreneurs under the MUDRA Yojana. Addressing dalit entrepreneurs in New Delhi, he said: “80,000 borrowers have benefited from the scheme under which more than Rs.50,000 crore worth of loans have been given primarily to SC, ST, OBCs and women entrepreneurs who are engaged in small business and provide jobs to about 14 crore persons.” Speaking at the National Conference of SC/ST Entrepreneurs on B R Ambedkar's ideas and thoughts on industrialisation and entrepreneurship, Modi ...

Source: PIB, Government of India The Union Finance Minister Arun Jaitley participated in the meeting of G-20 Finance Ministers and Central Bank Governors in Peru on October 8. He also participated in the G-24 Finance Ministers' meeting. In his interventions the Finance Minister, inter alia, welcomed the Sustainable Development Goals (SDGs) to be achieved by 2030. He alluded to the uncertainty surrounding recovery of the global economy and emphasized the need to explore unconventional means to raise resources to achieve the SDGs. He elucidated the initiatives taken by India to overcome the challenges to the economy and elaborated the unique identity linked financial inclusion programme which has resulted in opening of 180 million new bank accounts enabling direct transfer of benefits ...