Recently, the National Strategy for Financial Inclusion (2019–24) prepared by the RBI has been approved by the Financial Stability and Development Council (FSDC). It sets forth the vision and key objectives of financial inclusion policies in India and aims to provide access to formal and affordable financial services; broaden and deepen financial inclusion; and promote financial literacy and consumer protection. 14.
For example, last year, regional output declined largely because of falling output in the commodity based economies which have been adversely impacted by declines in commodity prices. On the other hand services based economies are registering modest growth. As policy makers, we face the challenge of creating conditions that will contribute to improved standards of living over time.