Financial Inclusion White Paper - NCR

2.2 Un-banked unbankable population
Two-fifths (41.6 percent) of India’s population live on less than US$1.25 a day.
This section of underserved population needs social improvement and attention to
basic needs such as health, education and housing amongst others through
government grants. Social and economic development can be brought about by
creating opportunities such as employment for the unskilled masses, developing
work skills and providing a stable economical environment. For this group, the
‘unbanked unbankable’, economic development follows social development. Once
they are socially and economically stable, financial literacy, formal sources of
microfinance and appropriate delivery channels can aid inclusive economic
growth.
Chart 2.c: Un-banked Bankable Population
Unbanked – Unbankable
Need Social development
through,
• Government grants
• Employment scheme
• Social benefits such as health,
education, etc
Financially
Included
Unbanked Underbanked –Bankable Bankable
Need access to financial services
through,
•Banking •Banking Transaction (Deposit,
Savings, etc)
•Micro •Micro Credit / Micro finance
•Micro •Micro Insurance
•Multiple •Multiple product deliver platform
Financially
Underserved
15