Financial Inclusion Funds


Financial Inclusion Fund (FIF) was formed by merging FIF and Financial Inclusion Technology Fund (FITF) and established by RBI 
§  FIF and FITF were established in the year 2007 – 2008 over a period of five years
§  RBI merged both funds into a single entity named FIF and came into effect in 2016
§  RBI established FIF with a corpus of 2000 crore
§  NABARD maintains the funds of FIF
§  GOI administers the FIF
§  To create awareness among people about financial inclusion
§  To set up financial literary centres at every block level
§  To cater to the services of Jan Dhan Yojana account holders
§  To set up standard kiosks to create financial literacy in gram panchayats
§  The Kiosks will be highly interactive to educate the masses
§  NABARD support to establish skill development centres (SETI)
§  SETI aimed at imparting skills necessary for generating income 
§  To provide linkages in a forward manner and establish marketing activities
§  To improve network connectivity by sharing government projects pertaining infrastructure and telecommunication development

Wednesday, 23rd Aug 2017, 01:20:56 PM

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