Page 31 - Banking Finance January 2024

ARTICLE

REACHING POOR &

BRIDGING DISPARITIES

BY CONNECTING

UNCONNECTED

THROUGH

DIGITALISATION

Introduction resources. In this regard Financial inclusion has always been
a key pillar of the Indian government's economic policies.
This year we have celebrated 77th years of independence;
wherein on one hand our country's all-around progress is a Initiatives such as Jan Dhan Aadhaar-Mobile (JAM) trinity
are game-changers that have ensured equal and affordable
matter of applaud and on another hand countrymen are still
access to financial services for India's unbanked and
suffering from poverty and disparities. Though state's
resources are continuously utilized in the name of poverty underbanked population, thereby reducing income
alleviation and disparity reduction program. A series of inequality.
welfare schemes over the last many years failed to end the
There are different approaches of inclusive growth. Effective
miseries of the bottom segments of population in the
implementation of pro-poor program by using available
economic ladder.
digital path is the way forward for bridging the disparities
of society. But results were still not that prominent, so we
Ultimately during last decade, it was realized that the
effectiveness of welfare measures can only be visible by have to brainstorm that what is coming in the way of
coming closure to the poor through various innovative financial inclusion .? Let's discuss:
channels where there is no leakages or embezzlement of
Blockades in the way of Financial Inclu-

sion programs
About the author

Sutapa Sinha Demand Side Barriers
Chief Manager Complexity: The excluded sections feel it difficult or are
STC, Union Bank of India hesitant to go to bank for small transaction which is
Hyderabad puzzling and time wasting.

BANKING FINANCE | JANUARY | 2024 | 27