i nc lu s i ve f i nanc e i nd i a re port 2014
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• Financial Inclusion of Excluded Segments of Population:
During Workshops on NRLM and NULM it was revealed
that there are different subsets of people that remain excluded like Transgender, Persons with Disabilities, minorities
and elderly. A different strategy and mechanisms is required to cover these subsets of segments as it is difficult to
form SHGs/JLGs of such segments.
• Coverage of Voluntary Savings Aspects:
There is a need to promoting voluntary savings in SHGs and other col-
lectives. NABARD in its revised SHG-II scheme has provided scope for promoting voluntary savings amongst
the members of SHGs. UNDP is closely working with Ministry of Finance to link SHGs and other collectives to
function as intermediary for promoting voluntary savings.
• Financial Inclusion and Livelihood Issues of Rickshaw Pullers:
There was no exclusive report/study about financial
inclusion of Rickshaw Pullers at national level. UNDP has recently conducted a national study on Financial Inclusion
on livelihood issues of the rickshaw pullers.
• SHG Federations:
Many SHG Federations formed under IFAD project are now registering under multipurpose
cooperatives. It is still to be studied that—What are the different type of federations existing in India? To what extent
they are doing financial or social intermediation or both? How can these federations be strengthened? NABARD has
a scheme to supportthese federations but at the ground level whether banks are supporting them or not? This needs
to studied and covered in the report.
• Housing Microfinance:
More focused approach is required for housing MF in India including research. Presently
there seems a significant gap in practice and theory of housing microfinance.
• Micro Leasing:
Micro leasing could be taken up as an alternative to credit based micro financing but needs more
in-depth study. There have been successful examples of micro leasing in India and abroad. The Goat India has suc-
cessfully experimented micro-leasing.
Introduction and Briefing by Mr. Ajay Tankha and Dr. Tara Nair—Authors of
Inclusive Finance India
Report 2014
Mr. Ajay Tankha thanked UNDP for organizing the round table and expressed his hope for good set of inputs from
the discussion. He mentioned that this year’s report represents both continuity and change. Last year’s SOS report
basically covered two channels—the MFIs and SHGs and special products and services around the MF initiatives
in India.
He informed that
Inclusive Finance India Report 2014
of this year will aim to focus more on the segments which
have been neglected and Banks will be at the centre of this new discourse on Financial Inclusion as envisaged by the
Government. In the previous years, we have not been able to access the banks but this year they would like to a better
understanding of how banks feel, their business model, how they work in relation to various FI initiatives.
This report will begin with revision of whole concept of Financial Inclusion. There are many ways people present
their work and views on Financial Inclusion. There is a need to unpack and demarcate various perspectives on Financial
Inclusion. Some people talk about real Financial Inclusion, the demand side and so many others ways in which this
term is used, abused and understood. This issue of defining the Financial Inclusion will be covered in the opening
chapter and discussion on the landscape of Financial Inclusion.
The second area would be the status of Financial Inclusion in the country and various state government’s initiatives,
their numbers and how and to what extent they cover the large number of unbanked people in the country. They will
also examine how various other initiatives in this space and discourse around SHG, JLG and MFIs, how they can be
fitted in the financial inclusion from the perspective of a dominant discourse of the government.
Apart from the above, the authors also mentioned to cover policy development in this area and see what are the
implications of the recent committees including Nachiket Mor committee report. The question of bank licenses, new
channels, payment banks, how and what are the implications of these for financial inclusion efforts in the country.
