Financial inclusion prevents social unrest: Governor Narasimhan

Hyderabad: Inaugurating the first ever training programme on “e-Payments, Financial Inclusion and Social Security” for ASEAN Civil servants organised by Dr. MCR HRD Institute at Raj Bhavan on Monday, Governor E.S.L. Narasimhan said that this kind of training programme will help in exchange of good practices and cooperation between India and ASEAN countries in the matters of financial inclusion and inter-related subjects and help the people of ASEAN countries to gain knowledge about various economic and development programmes implemented by the Central and state governments in the country.

The Governor said the financial inclusion programmes should enable equitable and sustainable growth and ensure social security and increase of GDP.

He said financial inclusion plays a very important role in economic development and will enable people to lead a decent and respectable life. He also said financial exclusion will lead to social unrest and to prevent this it is necessary that an inclusive society needs to be built to bridge the gap between different segments of the society.

Narasimhan further said financial inclusion enables social security growth across the globe and as part of financial inclusion plan in India, it was mandated that for every bank branch opened in urban areas, two branches should be opened in rural areas and this has spurred the spread of rural banking.

He said farmers’ credit cards and other agriculture related welfare programmes covers the entire life cycle of agriculture production and several programmes were launched by the Telangana government to improve infant mortality and improve health of expectant mothers and increase of institutional deliveries.

He said top priority is given to inclusive education by setting up residential schools, where everything is taken care of and it is affordable, qualitative and inclusive.

The Governor said food security is taken care of by good public distribution system by computerisation and linking of beneficiary data with Adhaar data and plugging leakages with biometric system. Healthy society is taken care of by setting up of Public health centres in rural areas, said the Governor.

“Ayushman Bharath”, the flagship programme of the Central Government provides financial assistance to poor families to get quality health care for each member of the family, said the Governor.

He said quality and affordable health care, accessibility to underprivileged sections in rural areas is the main principle behind the programme. He said lot of good work has been done in both Telugu states and other states in the country in matters of health, food and education security.

The Governor made a mention of another flagship financial inclusion system NREGA, which provides guaranteed job throughout the year ensuring financial stability. He said widespread use of Internet has enabled exponential growth of e-commerce and e-payments stimulating economic growth through digital transactions.

With GST reforms, things are made more easy and transparent. The Governor further said that financial inclusion and social security and digital payments are three pillars of the economy and makes the economy of the country very strong.

He said happiness quotient of the people is more important than statistics and feeling of happiness and sense of belonging are important for national security and that no section of the society should feel irrelevant and left behind.

He also said that while going digital and adopting e-payments, and electronic transactions, care should be taken and cautious approach is needed when it comes to banking as confidence level of people needs to be ensured and as financial inclusion is aimed at vulnerable groups of the society it requires a certain amount of education also.

The Governor said banking operations should be made more easier and accessible to common people. Financial inclusive measures in India got a boost with Post offices venturing into banking operations and bringing the services at door-step of people.

He said with micro finance credit system activities through institutions such as SERP, the bad practices of money lending system have been done away with.

Narasimhan said by ensuring food, health, education and energy security and bridging the rural and urban divide, migration from rural areas to urban can be curbed.

He said the age old Indian concept of “Vasudhaiva Kutumbakam”, propounds oneness and universal happiness of the people, since ancient times.

The Governor wished that the young Civil servants from ASEAN countries attending the programme will carry happy memories of their stay in Hyderabad.

The 12-member ASEAN civil servants attending the 7-day training programme included H.E. Dr. Chivoan Sao, Secretary of State for Ministry of Rural Development, Cambodia, 4 from Indonesia, 3 from Cambodia, 2 from Myanmar, 2 from Thailand and 1 from Malaysia.

Director General of Dr. MCR HRD Institute B.P. Acharya, Addl. D.G. Harpreet Singh, Secretary to Governor Surendra Mohan, have also attended the inaugural programme. (INN)

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