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27 MAY, 2017 (MAINS)



Q1. Despite the rapid strides made in the field of Financial Inclusion, the extension of the same for the disabled sections of society has been neglected. Elucidate. (200 words)


Please write the answer in comments section

  • Ashish

    With the plank of JAM [Jan Dhan Aadhar and Mobile] government has been able to expand the net of formal financial sector
    The JAM trinity has helped to further financial inclusion in a big way by expanding supply, bank accounts mobile banking, as well as demand Direct Benefits Transfer [DBT] in lieu of subsidies
    However the same cannot be said with certainty about the disabled sections
     Brick and mortar based bank branches have been inaccessible as their coverage in rural areas is still low.
     Difficulty in getting accounts opened in their name.
     The low levels of literacy prevalent among the disabled further compounds the problem.
     As our economy is still largely cash based they need cash for day-to-day transactions which make travel to banks and ATMs imperative.
     Connectivity being a huge challenge especially in mountainous and island areas, besides very few of the existing buildings are disabled friendly.
     Disabled friendly devices are still costly which puts them out of the purview of a large section of this community.
     Their inclusion in labour sector is low.
    However newer technologies like ATM instructions for the visually handicapped and government schemes for the disabled like “Sugamya Bharat Abhiyan” which aims at making public buildings and documents disabled friendly are a welcome step.

  • Osho Korde

    Financial inclusion means providing all the necessary services like credit cards, cheque book, loans, etc. to every individual and organization no matter what the net worth and size is, it is to include excluded people into bank financial activities.
    But still disabled sections of society have been neglected because:
    1. The aim of the bank is to increase their deposit rates, due to which they find it more profitable to provide their services to the healthy and well serviced individual.
    2. To eliminate visually disabled people from these bank services, banks don’t use the audio captcha, and due to this the disabled has to be dependent on others and has no personal life.
    3. The infrastructure is not developed, banks don’t find it profitable to invest in making new infrastructure for physically disabled.
    4. Bank service provider don’t have any empathy towards these people and they don’t help them properly, rather they tell them to open a joint bank account.
    We can help them by:
    1. Making it a soul responsibility of a bank to provide all the services to disabled, and follow the rules made by RBI
    2. To make the necessary infrastructure.
    3. Add audio captcha
    4. A tenderness among the bank associates is mandatory.
    5. PMJDY is a good initiative.

    Financial inclusion is right to every person, even our constitution states that we should strive to bring the development for disabled sections.