Write anyone of the following essay in under 250 to 300 words.Please donot use Ctrl+C n Ctrl+V option.Best ones will be published on this platform
1)Women Empowerment
2) Payment banks For Financial Inclusion
3)Start Up India Stand Up India
Friday, 22 July 2016
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India is going through a revolutionary phase with GDP and income of its people. But the effects are not fully visible in numbers as all the people across the country are not covered under a financial inclusion. Banks are there in the rural areas but in not every corner so we need a different sort of idea to tackle this problem. Here comes a idea for payments bank which will serve this interest of financial inclusion. It will be a differentiated bank which can accept deposits from the people upto 100000 /- rs but does not have the power to lend.
ReplyDeleteThese banks are build on idea of reaching the people which are still untouched in financial terms. 11 such entities are also given banking licences by RBI which include some bigger names like Reliance, Paytm, airtel etc. These entities who already have their presence in the market by different means will found it easier to get the costumers to the banking business.
These banks will bring a new bring new ideas and different set of solutions to meet the requirement of people which include mobile banking mainly. It may7 be bring a smoother transaction and faster process of circulation of money among masses.
But to achieve this the differentiated banks have to do some vigorous research before entering the field. They have to reach the last costumer available in the country either by technology or by physical means.Only the the idea of total financial inclusion would be satisfied.
Thanks 4 your views
DeleteThe entrepreneurial spirit of the underprivileged is often nipped in the bud due to lack of finances. To tackle this, the Government of India has announced "Start-up India" program. Start up India Stand up India is an action which seems to be laudable for starters and huge booster for entrepreneurs and helps India in making it start up hub of world.
ReplyDeleteIt seeks to provide funds of 10000crore which will further catalyze more investment. Faster and easier registration of companies along with no inspection for three years will simplify the process. Three year tax holiday and faster registration of patents will help in attracting many investors. Academic support through creation of ‘startup India Hub’ will allows bank, incubators, legal partners, universities and R&D institutions to come on single platform.
Though it will be a support to young entrepreneurs who migrate abroad in search of angel investors, India faces some challenges in implementing this scheme. Low levels of penetration of digital infrastructure in India forms the bed rock for these startups. Also, there is less number of experts in Startup sectors in India which may result to failure. Indian education system makes innovative and creative risk taking steps disincentive. Company law is also a big hindrance in this move. Also it gives a major blow to Government’s Indradhanush Plan to revive Public Sector Banks.
As Startups can become job creator for this decade without relying much on land acquisition, climate, and global economy. Hence, it is essential to make all efforts to make India startup-hub. This can be done by providing adequate funding to train new technology. Tax laws need more clarification and simplification. Many present startups are engaged in fixing broken market and do not focus on the business model that leads to failure. The tag of "solving a problem" and influencing from the same idea of their established western counterpart should reform. The initiative sets a vision to liquidate the process but to reach the paramount the scheme must target on the crux of the issues present in today's start-up system.
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ReplyDelete