1.00 lakh in the local clearing at these centres. However, this measure has to be applied uniformly to all participants, including Government departments. 3. Are payment systems operated by non-bank entities a necessary reality for achieving FI in India? What is financial inclusion?
In our view financial inclusion is the process of ensuring access to appropriate financial products and services needed by all sections of the society in general and vulnerable groups such as weaker sections and low income groups in particular, at an affordable cost in a fair and transparent manner by regulated mainstream institutional players.