: SKOCH group setsup Task Force on Financial Inclusion #FinanceIndia #StockMarketNEWS SKOCH group sets-up Task Force on Financial Inclusion New Delhi, Nov 9 (KNN) A Task Force comprising of financial

@StockMarketNEWS Mon 14 Nov, 2022

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SKOCH group setsup Task Force on Financial Inclusion #FinanceIndia #StockMarketNEWS
SKOCH group sets-up Task Force on Financial Inclusion New Delhi, Nov 9 (KNN) A Task Force comprising of financial experts has been set-up by SKOCH group to extend the scope of activities of the organised financial system to include within its ambit people with low incomes.

The Task Force set up by the leading think tank working on socio-economic issues will look into credit gaps in both consumption, as well as livelihood linked credit and financial literacy gaps.

It would also deliberate on how the digital infrastructure established since 2014 could be leveraged to develop new models of underwriting risk, collateral, credit rating and raising capital and suggest how digital lending and technology can create universal access to credit.

With 99% of enterprises in India falling under informal sector, vast swath of enterprise universe remain excluded from formal banking.

The Task Force report aims to illuminate the underlying causes of financial exclusion and use of digital infrastructure to innovatively address the issue.

The experts in the group includes U.K. Sinha- former SEBI Chairman, S.S. Mundra- former Dy Gov RBI and now Chairman of BSE, Deepali Pant Joshi- former ED RBI, former Secretaries of GoI Amarjeet Sinha (Rural development) and Siraj Hussain  (Agricuture), Chandra Shekhar Ghosh- MD & CEO Bandhan Bank, Reema Nanavaty and Renana Jhabwala from SEWA.

Further it consists of Ajit Ranade- noted economist and VC, Gokhle Institute of Politics and Economics, Sameer Kochar-  Chairman SKOCH group,  Anil Bhardwaj- Secretary General FISME, S Mahendra Dev- Chairman, Inst of Development Studies, S. Abhman Das- Prof. IIM-A,  Jayshree Vyas- MD, Mahila Sewa Shahkari Bank, Alok Misra- CEO MFIN, Jiji Mammen- ED-Sa-dhan and Deepak Phatatak- IIT-B.

U.K. Sinha also headed a high-powered group which was set-up by RBI in 2019 on improving MSMEs access to finance.  (KNN Bureau)