Perspectives on Financial Inclusion

Rakesh Mohan


The poorest sections of the Indian population, particularly in rural areas, do not have access to banking or insurance services. Financial inclusion is therefore an important aspect of economic policy. On the basis of international comparaisons, the author maintains that the situation is not as bad as it is made out to be and that it has to be analysed in detail. To help the poorest of the poor, their needs have to be determined ; at least some of them such as health should be covered by the State without obliging these people to turn to costly and futile funding options. In addition, the authorities and financial players must propose products which respond to the real needs of these people.


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Footnotes

Vice-gouverneur, Reserve Bank of India (RBI) (2002-2004 ; 2005-2009) ; professeur, Practice of International Economics of Finance, School of Management ; senior fellow, Jackson Institute of Global Affairs, Yale University.Cet article est basé sur des travaux précédemment réalisés par l’auteur. Voir le chapitre 6 de Growth with Financial Stability: Central Banking in an Emerging Market, New Delhi, Oxford University Press, 2011.Une version complète de cet article a été publiée dans la Newsletter du centre de recherche indien INDICUS (New Delhi), www.indicus.net.

1   D’après le Tendulkar Committee of the Planning Commission, la pauvreté en Inde était estimée à 37,2 % en 2004-2005.

2   Reserve Bank of India, 2008.

3   Rapport du Committee on Financial Sector Reforms, présidé par Raghuram Rajan, Sage Publications, New Delhi, 2009.


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