Financial Inclusion

What is the Project About

What is the Project About

In partnership with the National Bank for Agriculture and Rural Development, the project aims to increase financial inclusion of the poor by developing appropriate financial products for them and increasing awareness on available financial services and strengthening financial literacy, particularly amongst women.

What Have We Accomplished So Far

What Have We Accomplished So Far
  • Community-based model established to improve access of more than one million poor households to health-related information and services available under the national flagship Rashtriya Swasthya Bima Yojana or the National Health Insurance Scheme

  • About 5,000 households better linked to financial services and products in Pakur district in Jharkhand

  • Nearly 10,000 poor men and women have benefited from customized financial literacy packages that include information on available financial products and services, pricing and conditions

  • Knowledge sharing networks such as the United Nations Solution Exchange- Microfinance Community of Practice have provided policy support through inputs on key draft legislations

  • Renewed policy focus on financial inclusion needs of street vendors

Funding Support by



Donor Name Amount Contributed
United Nations Development Programme US$ 23,00,000


Expenditure in Previous Fiscal Years

Year Amount
2012 US$ 467,109
2011 US$ 693,931

Stories of Change

Functional Literacy – The Language of Empowerment

Functional Literacy – The Language of Empowerment
By focusing on financial and legal literacy, UNDP has empowered poor and marginalized to strengthen their asset base, secure justice and expand the range of choices available to them.


Social Mobilization for Poverty Alleviation

Social Mobilization for Poverty Alleviation
As a result of UNDP India’s Social Mobilization for Poverty Alleviation project in partnership with the Ministry of Rural Development, Government of India, women in the villages of Udaipur in Rajasthan have been able to open bank accounts and take important decisions related to livelihoods.

Project overview
Status:
Ongoing
Project Start Date:
2009
Estimated End Date:
2012
Geographic Coverage:
Select districts and blocks in Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Odisha, Rajasthan and Uttar Pradesh
Focus Area:
Poverty Reduction
MDG:
Goal 1- Eradicate extreme poverty and hunger
Project Officer:
Ratnesh
Partners:
National Bank for Agriculture and Rural Development (NABARD)
Highlights
  • Access of the poor to finance is critical to reducing poverty
  • More than 40 percent of the adult population do not have access to basic banking services
  • The project aims to improve access of the poor to existing financial products
  • Community-based model established to improve access of poor to health-related information
  • About 5,000 households better linked to financial products and services in Pakur, Jharkhand
  • Nearly 10,000 poor men and women benefited from customized financial literacy packages
  • Policy support provided by the UN Solution Exchange- Microfinance Community of Practice