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What is National financial inclusion Strategy?

National Financial Inclusion Strategies (NFIS) can be defined as roadmaps of actions, agreed and defined at the national or subnational level, which stakeholders follow to achieve financial inclusion objectives. More than 50 countries have made headline financial inclusion commitments as of the end of 2014.

What are the examples of financial inclusion?

Financial Inclusion Schemes in India

  • Pradhan Mantri Jan Dhan Yojana (PMJDY)
  • Atal Pension Yojana (APY)
  • Pradhan Mantri Vaya Vandana Yojana (PMVVY)
  • Stand Up India Scheme.
  • Pradhan Mantri Mudra Yojana (PMMY)
  • Pradhan Mantri Suraksha Bima Yojana (PMSBY)
  • Sukanya Samriddhi Yojana.
  • Jeevan Suraksha Bandhan Yojana.

What are the objectives of national financial inclusion strategy?

The objective of the Strategy is to set national vision for achieving universal financial inclusion in Pakistan. The NFIS lays out the vision, framework, action plan, and target outcomes for financial inclusion. The strategy aims to enhance formal financial access to 50 percent of the adult population by 2020.

What are the main aim of financial inclusion?

Financial inclusion is a method of offering banking and financial services to individuals. It aims to include everybody in society by giving them basic financial services regardless of their income or savings. It focuses on providing financial solutions to the economically underprivileged.

How do you promote financial inclusion?

8 key approaches to accelerate financial inclusion

  1. Foster a diversity of financial institutions.
  2. Facilitate the use of innovative technologies and entry of technology-driven, non-traditional institutions.
  3. Expand agent-based banking and other cost-effective delivery channels.

What was the National Financial Inclusion Strategy of Nigeria?

The Central Bank of Nigeria (CBN) adopted the National Financial Inclusion Strategy (NFIS) in 2012. The Strategy articulated the demand-side, supply-side and regulatory barriers to financial inclusion, identified areas of focus, set targets, determined key performance indicators (KPIs) and established the implementation structure.

What are the prospects for Financial Inclusion Strategy?

Prospects for Financial Inclusion The revised strategy recognises the imperative for prioritizing the foundational constraints, the importance of innovation and the need to create an enabling environment to promote financial inclusion.

What are the four strategic areas of the Nfis?

The NFIS was built on four strategic areas of agency banking, mobile banking/mobile payments, linkage models and client empowerment.

When was the Nfis strategy review carried out?

Strategy Review Process In line with the 2012 NFIS monitoring plan, a review was carried out from October 2017 to June 2018 based on research reports, data analysis and stakeholder engagements.