RBI releases National Strategy for Financial Inclusion (NSFI): 2019-2024

Shri M K Jain, Deputy Governor, RBI released the National Strategy for Financial Inclusion (NSFI): 2019-2024 at the High Level Meeting on Financial Inclusion for the North East region convened at Agartala on January 10, 2020.
The NSFI sets forth the vision and key objectives of the Financial Inclusion policies in India to expand the reach and sustain the efforts through a broad convergence of action involving all the stakeholders in the financial sector.
NSFI enlists 6 visions:
- Universal Access to Financial Services
- Providing Basic Bouquet of Financial Services
- Access to Livelihood and Skill Development
- Financial Literacy and Education
- Customer Protection and Grievance Redressal
- Effective Co-ordination
The document highlights the major issues that act as impediments to financial inclusion and comes up with a set of recommendations and action plans to support sustainable financial inclusion over the next 5 years.

Points to remember: