Question : Financial Inclusion Advisory Committee

(a) whether the Reserve Bank of India has any plan to recommence the Financial Inclusion Advisory Committee (FIAC); and

(b) if so, the details thereof and the action taken thereon?

The Minister of State in the Ministry of Finance
(SHRI JAYANT SINHA)

(a) and (b) Reserve Bank of India (RBI) has informed that it has reconstituted the Financial Inclusion Advisory Committee (FIAC) with the following terms of reference:

• Monitoring of the Financial Inclusion Plan progress submitted by banks and evaluation of its impact through conduct of study/surveys;
• Monitoring of the Financial Literacy progress reported by banks and evaluation of its impact through conduct of study/surveys;
• Preparation of National Strategy for Financial Inclusion which will be convergence of the Financial Inclusion efforts of various stakeholders including the PMJDY and monitoring of the progress made under the same.

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