31-AUG-2016: Professor Nawab Ali Khan, Dean, Faculty of Commerce, Aligarh Muslim University recently delivered a Key-Note Address at the UGC and ICSSR sponsored two-days National Seminar on 'Financial Inclusion in the Pursuit of Poverty Reduction and Growth' at Midnapore. Prof Khan attended the National Seminar as the Chief Guest.
During the Key-Note lecture, Prof Khan pointed out that the Financial Inclusion plays a major role in driving away poverty from society. He further said that the Financial Inclusion is about a delivery of banking services at an affordable cost to the vast sections of disadvantaged and low income groups with the main focus to promote sustainable development and generating employment in rural areas.
"Financial Inclusion offers incremental and complementary solutions to tackle poverty and promote inclusive development," said Prof Khan adding that even though our Country's economy is growing around 9 percent, still the growth is not inclusive with the economic condition of the people in rural areas worsening further.
Pointing out that one of the main reasons for poverty is being financially excluded, Prof Khan said that though there are few people who are enjoying all kinds of services from savings to net banking, but still in our country around 40 percent of people lack access to even basic financial services like savings, credit and insurance facilities.
So an inclusive sector should not only serve the 'bankable clients', but also integrate the 'unbankable clients' by making them "bankable".
The Seminar was attended by eminent Professors of West Bengal, young teachers and researchers from different parts of the country.