The Reserve Bank on Monday announced a 13-member committee, including former Citibank CEO Vikram Pandit and Axis Bank chief Shikha Sharma, to frame a "clear and detailed" vision for financial inclusion/deepening across the country.
The 'Committee on Comprehensive Financial Services for Small Businesses and Low-Income Households' has been tasked to develop a comprehensive monitoring framework to track the progress of the financial inclusion and deepening efforts on a nationwide basis.
Terms of Reference of the committee
1. To frame a clear and detailed vision for financial inclusion and financial deepening in India.
2. To lay down a set of design principles that will guide the development of institutional frameworks and regulation for achieving financial inclusion and financial deepening.
3. To review existing strategies and develop new ones that address specific barriers to progress and that encourage participants to work swiftly towards achieving full inclusion and financial deepening, consistent with the design principles.
4. To develop a comprehensive monitoring framework to track the progress of the financial inclusion and deepening efforts on a nationwide basis.
5. Any other related issue/s the committee may want to opine on.
The Committee is headed by Nachiket Mor, Member on the RBI's Central Board of Directors.
The 'Committee on Comprehensive Financial Services for Small Businesses and Low-Income Households' has been tasked to develop a comprehensive monitoring framework to track the progress of the financial inclusion and deepening efforts on a nationwide basis.
Terms of Reference of the committee
1. To frame a clear and detailed vision for financial inclusion and financial deepening in India.
2. To lay down a set of design principles that will guide the development of institutional frameworks and regulation for achieving financial inclusion and financial deepening.
3. To review existing strategies and develop new ones that address specific barriers to progress and that encourage participants to work swiftly towards achieving full inclusion and financial deepening, consistent with the design principles.
4. To develop a comprehensive monitoring framework to track the progress of the financial inclusion and deepening efforts on a nationwide basis.
5. Any other related issue/s the committee may want to opine on.
The Committee is headed by Nachiket Mor, Member on the RBI's Central Board of Directors.
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