Financial Inclusion Current Affairs - 2020

Rajiv Kumar, former finance secretary appointed as Election Commissioner

On August 21, 2020, the former finance secretary was appointed as the Election Commissioner. The outgoing Election Commission Ashol Lavasa is to join the Asian Development Bank as its vice president. Highlights Mr Kumar has 30 years of experience in public policy and administration in several sectors. He holds LLB and BSc degrees along with Read More…

RBI launches “Innovation Hub” for Financial Inclusion

On August 6, 2020, the Reserve Bank of India launched “Innovation Hub” for ideation and incubation of new capabilities that can be leveraged to deepen financial inclusion. About Innovation Hub The hub is being launched to promote the start ups in the country. It will help in ideation and incubation of new capabilities. This will Read More…

EASE 3.0 launched by the Finance Minister to enhance Ease of Banking

On February 26, 2020, the Finance Minister Nirmala Sitaraman launched Enhanced Access and Service Excellence (EASE 3.0). It was launched along with the annual report of EASE 2.0 at a function organized by Indian Banks’ Association. Highlights The main aim of EASE 3.0 is to make public sector banking technology enabled and smart. By this Read More…

RBI launches 5-year Financial Inclusion Strategy

The Reserve Bank of India has launched National Strategy for Financial Inclusion (2019-24). The main motive of the strategy is to provide access to financial services in an affordable manner. Highlights The Strategy has been launched after thorough consultation with SEBI (Securities Exchange Board of India), PFRDA (Pension fund Regulatory and Development Authority of India) Read More…

MGNREGA scheme faces funds shortage

The MGNREGA (Mahatma Gandhi Rural Employment Guarantee Employment Act) scheme released its financial statement recently. According to the statement, almost 96% of the money has already been spent. Only 2,500 crores of rupees is left to sustain the scheme for the next two months. Highlights According to the financial statement of the scheme, 15 states Read More…