Financial Inclusion for the Unbanked Indian population

The term Financial Inclusion (FI) was first used in India in April 2005, in an annual statement published by the RBI governor Y.Venugopal Reddy. Much later the term got its meaning and started being used widely across the globe. Some strategic banking facilities were provided to numerous households in Mangalam, Puducherry for the time in 2005. There have been numerous efforts put forward since then. In January 26, 2015 Pradhan Mantri Jan Dhan Yojna was announced which made financial mission have a bigger and clearer entry into mainstream India.

We have universally accepted the fact that inclusive growth cannot be attained without Financial Inclusion. “The new rural finance paradigm is premised on the fact that rural people are bankable,” according to Nagarajan and Meyer, 2006. Affordable financial services must be made available to the poor and vulnerable social/economic groups to create economic empowerment. An economically empowered ecosystem builds a socially inclusive system. This provides equal opportunities and affordable financial services available to all, an equal society.

Currently India is considered as a nation with thousands of economic possibilities and we are all responsible to eradicate inequality and poverty. Without an inclusive financial system entrepreneurs, start-ups and small financial organizations would not be in a position to take advantages of growth opportunities. Rural communities largely remain untapped. An empowered rural nation will make the national economy completely empowered. Rural India is financially unserved.

Senrysa Technologies has been providing doorstep delivery services and cash in-cash out transactions to rural population through its BC (business correspondents). Rural citizens in north east and central India have known us for our ICT-based banking through BCs. We have brought banking facilities to the doorstep of millions of unbanked people.

Due to the unavailability of bank branches in many semi-urban and rural regions of north-east India our company has come up with bricks and mortar branches for improved financial inclusion.

Rural communities are highly underserved. They have every right to avail quality financial services. An inclusive growth is all about connecting rural India with modern banking services. The most important characteristic of FI is making cost-efficient banking products available to the poor and unbanked population.  With our 3000 touchpoints we are a proud player

Financial inclusion is not important just for individuals but for economies as well, since it works as a bridge connecting a nation’s social and economic development. As the present times call for an all-pervasive financial inclusion Senrysa is rightly in action presenting the best financial and banking technology solutions to our rural customer base.

Our real-time technology driven BFSI services include AEPS (Aadhaar Enabled Payment System) banking transactions, Tele-Medicine, Advisory services and Logistics. Senrysa is committed to provide low priced quality BFSI products to the rural masses. Our close proximity to the target population (rural India) makes us a suitable partner in fulfilling the national objective.