RBI Committee Sets Goal of Universal Access to Financial Services by Jan. 1, 2016

> Posted by Center Staff

The Reserve Bank of India (RBI) Committee on Comprehensive Financial Services for Small Businesses and Low Income Households released its much-anticipated final report today. This pathbreaking document sets out an ambitious vision of universal access to financial services within an exceedingly short time frame (by January 1, 2016). The report’s detailed framework to guide financial inclusion policy represents a significant shift towards flexibility in terms of institutional frameworks and product development. It details recommendations in the areas of electronic payments, access to savings and credit, insurance, and consumer protection. It also proposes a comprehensive monitoring framework to track progress.

We look forward to a robust dialogue among Indian financial inclusion actors as they digest the 265-page report.

You can access the report here.