FIA Global Technology Services is a financial inclusion company that provides banking to a large customer base who are as yet unbanked and to whom banking services cannot be provided. Financial inclusion mainly focuses on the poor who do not have formal financial institutional support and getting them out of the clutches of local money lenders.
Understanding Financial Inclusion
Financial Inclusion is the delivery of banking and financial services at an affordable cost to vast sections of disadvantaged and low income group customers. The basic concept of financial inclusion involves having a saving or current account with any bank and having access to loans, insurance services and other similar services.
Financial Inclusion - Policy & Framework in India
A sound system of institutions and instruments of intermediation is essential for promoting an efficient system. Increasing access to credit for the poor has always remained at the core of Indian planning in its fight against poverty. We still have a long way to go to fully realize the original objectives of inclusive growth.