Reaching Indias $5 Trillion Economic Ambition Will Need Gender Equity In Finance: RBI
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The credit outstanding to women entrepreneurs in India has climbed to about Rs.8 lakh crore, according to the RBI's ED, who also noted that the gender disparity in account ownership has narrowed in the global economy. Anil Kumar emphasised, however, that despite the fact that the demand and supply sides of finance can both benefit from the digital medium, there is still a gender difference in mobile ownership. According to him, women's lesser proportion is explained by the affordability of cell ownership, which is closely related to financial empowerment.
Although banking correspondents (BCs) can make it
The credit outstanding to women entrepreneurs in india has climbed to about rs.8 lakh crore, according to the rbi's ed, who also noted that the gender disparity in account ownership has narrowed in the global economy.
“We are in the process to review this entire BC framework, the role of corporate BCs, the services which they offer, what are the issues with them and the low level of women participation etc. These are the issues which we are engaged with (right now) and we will come up with acomprehensive set of regulations on how to revamp this particular framework, this can help us achieve what we intend to achieve”, said the official.
Anil Kumar continued by saying that all states, with the exception of three, have agreed to include a financial literacy programme for school education boards that has been developed by the RBI and other authorities. The country's financial literacy would increase, he claimed, if basic financial literacy could be ingrained in school curricula.