National Strategy for Financial Inclusion (NSFI): 2025-30
The Reserve Bank of India's Governor, has announced a new strategy aimed at enhancing financial inclusion in India over the next five years. This initiative is known as the National Strategy for Financial Inclusion (NSFI): 2025-30.
Key Objectives
- The strategy is centered around five principal objectives called the Panch-Jyoti, which aim to improve financial inclusion across the nation.
- There are 47 specific action points outlined to achieve these objectives.
Main Focus Areas
- Gender-Sensitive Approach:
- Emphasizing financial inclusion led by women.
- Developing strategies to bolster the financial resilience of underserved and vulnerable households.
- Equitable Financial Services:
- Ensuring access to suitable and affordable financial services to enhance financial security for households and micro enterprises.
- Synergizing Livelihood and Skill Development:
- Linking livelihood support systems with financial inclusion efforts.
Additional Efforts
- Financial Education:
- Utilizing financial education as a means to encourage financial discipline.
- Customer Protection:
- Enhancing the quality and reliability of customer protection and grievance redressal measures.
Development and Collaboration
This strategy has been developed by the Technical Group on Financial Inclusion and Financial Literacy (TGFIFL) with input from nationwide discussions and consultations with various stakeholders, including:
- Department of Economic Affairs
- Department of Financial Services, Ministry of Finance
- Securities and Exchange Board of India
- Insurance Regulatory and Development Authority of India
- Pension Fund Regulatory and Development Authority
- National Bank for Agriculture and Rural Development
- National Skill Development Corporation
- National Centre for Financial Education
