Prepared & Presented By:Akshank Shah

Financial Inclusion“...the delivery of banking services at affordable costs to the vast sections of disadvantaged and un-served segments of society.”

EBT – Electronic Benefits Transfer

Banking service available through business correspondents

Plug gaps and leaks in public subsidies and welfare programmes

Providing formal credit avenues

Creating a platform for inculcating the habit to save money

'no frills' account either with 'NIL' or very minimum balances

Financial Inclusion“...aimed at provide financial services available to every household.”

1. 'no frills' account either with 'NIL' or very minimum balances

2. Each household to have at least one bank account- to cover about 7.5 crore unbanked households

3. Overdraft facility of ₹5000

-after 6 months of operation

4. RuPay Debit & RuPay Kisan Cards -In built accidental insurance cover of ₹1 lakh -In built life insurance cover of ₹30,000

5. As on date, -4.18 crore accounts have been opened & counting

6. BSNL to provide m-wallet services

7. Wage seekers under MNGREGA will receive payments-4.41 crore individuals to open their account using Job

card

Formally launched on ‘28 August 2014’

By Prime Minister‘Shri Narendra Modi’

जन धन योजनाPeople’s Wealth Scheme

www.financialservices.gov.in

Operations“...aimed to operate for the benefit of all the member banks and their customers.”

Incorporated as a Section 8 Company under The Companies Act, 2013.

Card Payment Scheme“…to offer a domestic, open-loop and multilateral system of payments in India.”

To consolidate and integrate various payment systems in India.

Launched:26th March 2012Inaugurated by:Pranab Mukherjee(President of India)

Introduced as an open scheme.

‘Desi’ alternative“To emerge as an alternative of international payment gateways like VISA or MasterCard.”

- in Asia’s 3rd largest economy

Benefits: No participation fee for banks and other FIs.

Protection of information related to Indian consumers.

Lower cost of clearing and settlement for each transactions.

Inter-operability between various payments channels and products. A domestic scheme committed towards development of customized product

and service offerings for Indian consumers.

RuPay as a Payment Gateway

Operations

“go 'global' in a strategic tie-up ”

Transaction fees:0.45% up to Rs. 20000.65% above Rs. 2000 Mutual Fund, Insurance, Education and Government - ₹10a sub-one rupee switching fee scheme:60paise(Issuing Bank)+30paise(acquiring bank)

network-to-network alliance

Take control…Execution: Regulate the allocation of RuPay Debit card in

addition to standard issue of MasterCard/VISA Debit card.

Support e-commerce growth Encourage online payment for purchase

Adoption at ATM, Micro ATM & PoS service

Encourage cashless transactions

Contactless EMV Cards

Further plans: Provide Credit to existing

debit card holders

Gaining stance"(RuPay Card transactions are) just a drop in the ocean at the moment. But drop by drop we are increasing our size." -A P Hota, chief executive of NPCI

“RuPay will not only reduce dependence on cash, but will offer users diverse set of payment option within the country.” -President Pranab Mukherjee

RuPay users has now almost doubled from 23 million at the end of July; expected to rise to 160 million, with more than 60 percent of the increase coming from the government scheme.

“Jan Dhan itself would provide a big opportunity for the domestic card brand to be a formidable force.” - A P Hota, chief executive of NPCI

thank you !

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