In the India current status of financial inclusion which is based on a CMIE survey conducted with the 140,000 families.financial inclusion is varied dramatically by region.Bank accounts in urban region is 32% as against 18% in rural areas.Even within rural areas, 28% of men have bank accounts as opposite to only 6% of women.
Aadhaar-based financial inclusion can help banks and local officials meet their financial inclusion targets.
UIDAI plans to the financial inclusion in India by enabling banks accounts for every resident along with the issue of Aadhaar number.
UIDAI plans with an Aadhaar number to further the goal of financial inclusion in the country by enabling banks accounts for every resident along with the issue of Aadhaar number. The Aadhaar enabled bank account and the Aadhaar-enabled micropayments architecture using handheld micro-ATMs will be used to set up an architecture that enables low value transactions at very low cost. The social welfare payments would flow to these accounts, person to person remittances would be cheaper and numerous other applications like mobile top up etc. Could be done with Ease at village level.
Role of Handheld terminal for Financial Inclusion / Banking
Handheld terminal Financial Inclusion can make delivery of banking services at affordable costs to vast sections of disadvantaged and low income groups including households, enterprises, SMEs, traders.
Remittance Facilities etc.