According to data released from the first phase of India’s 2011 census, 54 percent of rural households have access to banking services, whereas 67 percent of urban households have such access. Bank access is defined living within 2 kilometers of a bank agent [1] [2].
The Indian government has encouraged banks to establish bank agents in villages with populations greater than 1,000 and bank branches in villages with populations of greater than 5,000 by September 2012 [1]. Five percent of 600,000 villages identified have bank branches [1] [3].
By Natalie Baer and Amira Berrada, Research Associates
Sources and Additional Resources:
[1] Financial inclusion is still a long way off: Census http://www.thehindubusinessline.com/industry-and-economy/banking/article…
[2] India 2011 Census: Houses, Household Amenities and Assets-2011 http://censusindia.gov.in/2011census/hlo/hlo_highlights.html
[3] India Census Metadata http://www.censusindia.gov.in/Metadata/Metada.htm
MicroCapital story, March 19, 2012, “MICROCAPITAL BRIEF: Unique Identification Authority of India (UIDAI) Task Force Recommends Micro-ATMs to Improve Financial Inclusion” https://www.microcapital.org/microcapital-brief-unique-identification-aut…
MicroCapital story, February 14, 2012, “MICROCAPITAL BRIEF: Reserve Bank of India to Issue Guidelines For Interoperability Among Business Correspondents ‘Shortly’” https://www.microcapital.org/microcapital-brief-reserve-bank-of-india-to-…
MicroCapital story, February 8, 2012, “MICROCAPITAL BRIEF: Indian Finance Ministry Clears Draft Microfinance Bill, Considers Engaging Post Office Banks to Promote Financial Inclusion” https://www.microcapital.org/microcapital-brief-indian-finance-ministry-c…
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