Financial Inclusion & Financial Literacy | PAPER II – PRINCIPLES & PRACTICES OF BANKING | MODULE A: GENERAL BANKING OPERATIONS
Banker - Financial Inclusion & Financial Literacy Banker - Financial Inclusion & Financial Literacy 1. Financial Inclusion by Extension of Banking Services Financial inclusion refers to delivering financial services at affordable costs to sections of disadvantaged and low-income groups. Banks play a crucial role in expanding their outreach to rural and underserved areas through brick-and-mortar branches, Business Correspondents (BCs), and banking agents. 2. Use of Mobiles/Tablets in Financial Inclusion Drive Mobile phones and tablets serve as effective tools for expanding banking access. Mobile banking apps, Aadhaar-enabled payment systems (AEPS), and digital onboarding allow banks to reach remote customers easily. These technologies reduce operational costs and improve real-time financial services. 3. Financial Literacy Financial literacy involves educating people ...