Ques : Recently Reserve bank of India released Report of the Committee on Medium-term Path on Financial Inclusion. Committee was constituted under the chairmanship of –
(a) Subir Gokarn
(b) Dr. Raghuram Rajan
(c) Deepak Mohanty
(d) Sindhushree Khullar
Ans (c)
Related facts :
- On December 28, 2015 Reserve bank of India released Report of the Committee on Medium-term Path on Financial Inclusion.
- Committee was constituted with the objective of working out a medium-term (five year) measurable action plan for financial inclusion.
- It is notable that the committee constituted in the Chairmanship of Executive Director Shri Deepak Mohanty.
Salient recommendations of the committee are as follows :
- Banks have to make special efforts to step up account opening for females.
- In addition, the Government may consider a deposit scheme for the girl child ‘Sukanya Shiksha’ as a welfare
- A unique biometric identifier such as Aadhaar should be linked to each individual credit account and the information shared with credit information companies to enhance the stability of the credit system and improve access.
- Levying a surcharge on credit card transactions by merchant establishments should not be allowed.
- A geographical information system (GIS) to map all banking access points.
- To improve ‘last mile’ service delivery and to translate financial access into enhanced convenience and usage, a low-cost solution should be developed by utilisation of the mobile banking facility for maximum possible G2P payments.
- More ATMs in rural and semi-urban centres, interoperability of micro ATMs and use of application-based mobiles as point of sale (PoS) for creating more touch points for customers.
Reference:
https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=35826