Financial Inclusion in Tripura - An Assessment
Financial inclusion may be defined as the process of ensuring access to financial services and timely and adequate credit where needed by vulnerable groups such as weaker sections and low income groups at an affordable cost. Providing access to basic banking services is the first phase of the financial inclusion process. The relevance of financial inclusion in Tripura carries a lot of points. The economy of Tripura plagued by geographical isolation, poor infrastructure facilities, higher incidence of poverty and high unemployement, etc., is agrarian and more than 80 per cent of population lives in the rural areas. The Census-2001 data reveal that proportion of households availing of commercial banking services in the State was 26.5 per cent compared to all-India level of 35.5 per cent. There are different estimates on the extent of exclusion but most of the estimates establish that the NER region is financially excluded and the region lies at the bottom.
Given the backdrop, the financial inclusion of Tripura is assessed with parameters like the number of branches, number of villages covered, number of accounts opened, expansion of ATM network, credit-deposit ratio, etc., to know the degree of banking penetration in the State. The study shows that physical achievements have reached notable level in Tripura compared with other States but qualitative achievement is still awaited for which banks should emphasise on local opportunities and requirements keeping in view national plan as well as the policy of State government, etc., so that credit penetration reaches the rural poor.
How to Cite
Basic Savings Bank Deposit Account (UCBs),30/5/2014, https://www.rbi.org.in/ commonman/English/Scripts/FAQs.aspx?Id=1289, DOA 17/5/2015.
Basic Statistical Returns of Scheduled Commercial Banks in India, Volume.
Branch Authorisation Policy - Opening of Branches in Unbanked Rural Centres, July 15, 2011, https://www.rbi.org.in/scripts/NotificationUser.aspx?Id=6613&Mode=0, DOA.
Chakraborty K.C. (2011), Financial Inclusion : A Road Map Needs to Travel, Speech on 12/10/2011), p-2.
Chakraborty K.C. (2011), Financial Literacy and Financial Inclusion â€“ Indian Way, p-3 https:/ /rbi.org.in/scripts/BS_SpeechesView.aspx?Id=607, Date of Access(DOA) (10/5/2015).
Chakraborty K.C. (2011), Financial Inclusion : A Road Map Needs to Travel, Speech on 12/10/2011), p-2, https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=607, DOA (17/5/2015).
Chakraborty K.C. (2013), Financial Inclusion in Indiaâ€”Journey So Far and Way Forward, dated Sept 6 2013, p-3 , https://rbi.org.in/Scripts/BS_SpeechesView.aspx?Id=836, DOA, (10/5/2015).
Chattopadhyay, Sadhan Kumar (2011), Financial Inclusion in India: A Case-Study of West Bengal, Working Paper Series DEPR 8/2011, page 2., http://mpra.ub.uni-muenchen.de/ 34269/, DOA (17/5/2011).
Chavan, Pallavi (2005), Banking Infrastructure in Tripura â€“A Note, pp-5-6 & 11 http://planningtripura.nic.in/THDR/backgroundreport/Banking Infrastructure.pdf.
Concept and Significance of CD Ratio, Chapter 3, http://shodhganga.inflibnet.ac.in, bitstream/10603/15652/9/09_chapter 3.pdf, DOA (18/5/2015).
Financial Inclusion â€“ Progress on Implementation of Banking Services in Villages Having Population >2000 Allotment of Villages, Position as at the end of Dec, 2013, http:// oldwebsite.slbctripura.com/progress_report_fip.html, DOA,( 13/5/2015).
Financial Inclusion : The Best and Worst Districts in India, Live.mint.com, http://blog.livemint.com/Opinion/JlfLR1mGkf2KZWiqwyvLjO/Financial-inclusion-The-best-andworstdistricts-of-India.html, DOA( 5/3/2015).
Financial Inclusion by Extension of Banking Services- Use of Business Facilitators and Correspondents dt 25/1/2006 https://www.rbi.org.in/Scripts/BS_CircularIndex Display.aspx?Id=2718 DOA, (25/5/2015. & 26/5/2015).
Government of Tripura, Directorate of Economics and Statistics, Economic Review of Tripura, 2013-14, Agartala, Tripura, pp 331-335.
Government of Tripura, Department of Tribal Welfare, Agartala, Tripura.
Government of Tripura, Directorate of Economics and Statistics, Economic Review of Tripura, 2013-14., pp-187 & 218.
Government of Tripura, Tripura Human Development Report, 2007, Agartala, p-73.
High Level Committee to Review Lead Bank Scheme â€“ Providing Banking Services in Every Village Having Population of Over 2000, September 16, 2010, https://www.rbi.org.in/scripts/ BS_CircularIndexDisplay.aspx?Id=5996 , DOA( 17/5/2015).
Master Circular on Green Initiatives of the Government.dt.20th July 2012. http:// financialservices.gov.in/banking/circulars/2012/Green Initiative Master Circular.pdf, DOA; 17/5/2015.
Minutes of the 112th State Level Bankersâ€™ Committee Meeting for the State of Tripura Held on 20.03.2015 , http://slbctripura.com/pdf/112_mar.pdf, DOA( 6/5/2015).
Minutes of the 112th State Level Bankersâ€™ Committee Meeting for the State of Tripura held on 20.03.2015, slbctripura.com DOA( 6/5/2015).
NABARD- Tripura State Focus Paper, P-5. https://www.nabard.org/pdf/Exe_summary_ Tripura_RO.pdf, DOA, (8/5/2015).
NABARD, Status of Microfinance in India 2013-14, p 10.. https://www.google.co.in/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF8#q=NABARD,+Status+of+Microfinance+in+India+2013-14, DOA( 26/5/2015).
One Documentary Proof of Address - RBI Further Simplifies KYC Norms for Bank Accounts, dt June 9, 2014, https://rbi.org.in/scripts/NotificationUser.aspx?Id=8931&Mode=0, DOA, (17/5/2014).
Opening of One Bank Account Per Family dt 3rd August, 2012. http://financialservices.gov.in/banking/circulars/2012/opening of Account per family.pdf, DOA( 17/5/2015).
Proceeding of 96th SLBC Meeting, Tripura, http://slbctripura.com/proceedings_of_96th_ slbc_tripura.asp, DOA ( 6/5/2015).
Proceedings/Minutes of the 109th SLBC Meeting for the State of Tripura held on 27th May, 2014, http://slbctripura.com/pdf/109_oct.pdf, DOA, (6/5/2015).
Proceedings/Minutes of the 111th SLBC Meeting for the State of Tripura Held on 06th December, 2014, http://slbctripura.com/pdf/111_jan.pdf, DOA (6/5/2015).
Rajan Raghuram (2009), A Hundred Small Steps- Report of The Committee on Financial Sector Reforms, page-49 http://planningcommission.nic.in/reports/genrep/rep_fr/ cfsr_all.pdf, DOA, (20/5/2015).
Rangarajan C. (2008), Report of the Committee on Financial Inclusion, p-2, 34-35 & 77.
RBI, Annual Report 2013-14, p-67 & 68, http://rbidocs.rbi.org.in/rdocs/AnnualReport/PDFs/ RBIARE210814_FULL.pdf, DOA,(25/5/2015).
RBI, Basic Statistical Returns of Scheduled Commercial Banks in India, Vol-43, p-18.
RBI, State-wise and Region-wise deployment of ATMs, DOA (27/5/2015).
Relaxations in Branch Authorisation Policy dt 21/10/2013, https://rbi.org.in/scripts/ NotificationUser.aspx?Id=8518&Mode=0, DOA( 17/5/2015).
Reserve Bank of India, Scheme to Cover Loans for General Purposes under General Credit Card (GCC) dt 27 December 2005 and Revised General Credit Card Scheme dt 2 December 2013. https://rbi.org.in/scripts/BS_CircularIndexDisplay.aspx?Id=2670, DOA (26/5/2015).
Roy, Sanjoy, (2005), Self-Help Group Strategy in Poverty Alleviation: Opportunities and Challenges, Indian Cooperative Review, October, 2005,National Co-operative Union of India, New Delhi.
Section 23 of the Banking Regulation Act, 1949 â€“ Relaxations in Branch Authorisation Policy dt December 1, 2009 DOA(17/5/2015).
Singh, Charan (2014), Financial Inclusion in India: Select Issues, Indian Institute of Business Management, Bangalore, Working Paper No. 474, p-8, http://www.iimb.ernet.in/research/ working-papers/financial-inclusion-india-select-issues, DOA, (11/5/2015).
firstname.lastname@example.org, May5, 2015 at 11.04 a.m.
State-wise and Region-wise Deployment of ATMs, http://rbidocs.rbi.org.in/rdocs/ STATEREGION_ATM/PDFs/ATM1405154941798CEB7C4A3DB7C284AFA8FC46DE.PDF, DOA, (27/5/2015).
State-wise Number of Road Works Completed, Pradhan Mantri Gram Sadak Yojana under PMGSY, 2006-2007 to 2013-2014 Up to December, 2013, http://databank.nedfi.com/ content/roadways, DOA (19/5/2015).
Summary Tablesâ€™,P-1, http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/0BSR4315 EACF3EE39A4EE3B7DC75A226083729.PDF, DOA, 13/5/2015
Swabhimaanâ€™- Transforming Rural India through Financial Inclusion., http://pib.nic.in/ newsite/efeatures.aspx?relid=84236, DOA( 17/5/2015).
Thorat, Usha (2006), Committee on Financial Sector Plan for North Eastern Region, 2006.
Thorat, Usha (2006), Report of the Committee on Financial Sector Plan for North Eastern Region,pp.-14 & 43, http://mdoner.gov.in/sites/default/files/silo4_content/REPORT% 20STUDIES ON T, HE NORTH EASTERN REGION/report studies/Financial_Sector.pdf, DOA (8/5/2015).
Thorat, Usha (2006), Report of the Committee on Financial Sector Plan for North Eastern Region, p-40, and Office of the SLBC, Tripura.
Thorat, Usha (2007), Financial Inclusion- Indian Experience, June 19, 2007, rbi.org.in, p-1 , https://www.rbi.org.in/scripts/BS_SpeechesView.aspx?Id=342, DOA(8/5/2015).
Tripura Human Development Report (2007), p-50, http://planningcommission.nic.in/plans/ stateplan/sdr_pdf/tripura hdr.pdf, DOA (13/5/2015).
Use of Regional Language in Banks dt 24-April-2015., http://pib.nic.in/newsite/ PrintRelease.aspx?relid=11869, DOA, 17/5/2015.
Vijaya Bhaskar, P (2013), Financial Inclusion in India-An Assessment, p-7, http:// www.rbi.org.in/scripts/BS_SpeechesView.aspx?Id=862, DOA(6/5/2015).
Vijaya Bhaskar, P (2014), Role of Financial Sector in Spurring Growth and Expanding Financial Inclusion in North Eastern Region, dt 19/9/2014, p-8.
Vijaya Bhaskar, P (2014), Role of Financial Sector in Spurring Growth and Expanding Financial Inclusion in North Eastern Region, dated September 19, 2014, p-4, https:// rbi.org.in/scripts/BS_SpeechesView.aspx?Id=920, DOA (11/5/2015).
Working Group on Information Security, Electronic Banking, Technology Risk Management and Cyber Frauds ( Circular) dt April 29, 2011, rbi.org.in, DOA, (17/5/2015).
www.pmjdy.gov.in, DOA (19/5/2015)
Zeenews.india.com, (2015), PM Modi Confers Tripura Block for Financial Inclusion, http:// zeenews.india.com/news/north-east/pm-modi-confers-award-on-tripura-block-forfinancialinclusion_1582422.html, DOA (18/5/2015).