Index
Microfinance and Development in Emerging Economies
ISBN: 978-1-83753-827-0, eISBN: 978-1-83753-826-3
Publication date: 4 September 2023
Citation
Malhotra, N. (2023), "Index", Microfinance and Development in Emerging Economies, Emerald Publishing Limited, Leeds, pp. 189-202. https://doi.org/10.1108/978-1-83753-826-320231010
Publisher
:Emerald Publishing Limited
Copyright © 2023 Nishi Malhotra. Published under exclusive licence by Emerald Publishing Limited
INDEX
Aadhar, 62–63
biometric system, 102
scheme, 74
Aadhar Enabled Payment System (AEPS), 93–94, 96–97, 108
Aam Adami Bima Yojana (AABY), 149
Aarogya Sanjeevani insurance policy, 156
Affective social capital, 27, 32
Affiliation, 30–32
Agency problem, 181–182
Agency Theory, 164
Agent networks, 114
Agrarian system, 153
Agricultural credit, 126, 129
Agriculture, 125, 128–129
Agricultural Labourers, 132
Agricultural Produce Mandi Act (APMC), 13
Agricultural system, 153
Agriculture and Rural Development Banks Land Banks, 129
Agriculture Insurance Corporation, The, 126–127
Analyser strategy, 76–81
Animal husbandry, 127
Apiculture, 127
Application Programing Interfaces (APIs), 101–102
Arrow–Debreu model, 121–122
Artificial intelligence, 102–103
Asian Development Bank, 10–11
ATMA, 127–128
Auction process, 13–14
Ayushman Bharat, 147–148, 156
Bank
accounts, 130
linkages, 34
existing rift between digital policies and objective of banking, 71–73
Banswara Village, case study of, 27
Behavioural social capital, 27
Bharat Bill Payment system, 108
BHIM (mobile application-based fund transfer system), 93–94, 96–97, 108
BOLT, 48
Bombay Plan (1944), 2–3
Bombay stock exchange
digitisation of, 48
index, 48
Borrowers, 123
Borrowings from self-help groups, 132–133
Bridging capital, 34
British rule, 9
Bruntland commission, The (1987), 154
Bulk Payment system, 101–102
Bureau of Police Research and Development (BPR&D), 157
Business decision, issue with, 165–166
Business email impostors, 141
Call Money, 55
Canadian International Development Agency (CIDA), 25
Capacity building
importance of, 19
initiatives, 5–7
Capital
formation, 50
metaphor of, 30–31
Cash, 94
transfers, 162–163
Cash Benefit scheme, 162–163
Cash-in cash-out (CICO), 114
Cashless economy, 96–97
challenges to, 114–116
digital capital, 115–116
of India, 93–94
social perspective, 93–94
Cashless financial systems
benefits of financial inclusion and digitization, 116–117
cashless economy of India, 93–94
challenges to cashless economy, 114–116
digital money, 96–97
e-Governance in India, 98–99
financial inclusion and consumer data protection, 114
Fintech Companies, 113–114
Indian stack, 101–102
nine pillars of Digital India, 99–101
Payment Banks in India, 112–113
policy ecosystem, 108
reforming e-government through technology, 102–108
transforming India’s digital payment landscape, 108–112
vision of digital India, 97–98
Casteism, 7–8
Central Bank of India, The, 60, 114
Central Government Health Scheme (CGHS), 156
Central sector schemes, 127–128
Centre for Monitoring Indian Economy (CMIE), 130
Centre for Water Resources Development and Management (CWRDM), 153–154
Certificate of deposits, 55, 65, 143–144, 184, 187
Choonthumani (earrings of Paniya tribe), 33–34
Circular flow of money in economy, 50–51
Climate Change, 152–154
initiatives for, 155
Climate refugees, 153–154
Cluster approach, 42
Cognitive social capital, 27
Collateral-free lending system, 132–133
Collateralised Borrowing and Lending Obligation (CBLO), 55, 57
Colonial capital, 40–41
Commercial banks, 51, 53, 59
Commercial Bills, 55
Commercial Paper, 55
Common Services Centre (CSC), 64
Community, 39–41
community-based organisations, 170
community-led endeavours, 150–151
forest management, 170
organisations, 39, 41
principles of, 41–44
Community resource person (CRP), 44
Companies Act (1956), 57–58
Companies Act (2013), 131
Conducive legal system, 175
Constitutive relevance
inequality and relational poverty, 8–10
poverty due to factors of, 7–10
of social exclusion, 9–10
impact of socio-cultural factors, 7–8
Consumer data protection, 114
Consumer Price Index (CPI), 131
Contract theory and need for governance structure, 98
Cooperative Banks, 129
Corporate Social Responsibility Act (CSR Act), 147–148, 173
Corruption, 158
COVID-19, 2–3, 36
pandemic, 69–70
Credit Cards, 74
Credit Clearing Corporation of India, The, 55
Credit Guarantee Fund, 140
Credit Rating Agencies (CRAs), 136
Credit Rating Information Services of India (CRISIL), 135–136
Credit Reporting Systems, 135–136
Crimes, 5–7
Crop Husbandry, 127
Cultural capital, 115–116
Cultural factors, 133–134
Cyber security, 141
DAY National Rural Livelihood Mission (DAY NRLM), 36–37
Decentralisation, 139
Deen Dayal Antyodaya Yojana, 155–156
Delhi Government, 13–14
Deltaic wetland, 153
Demand side barriers, 133–137
Democracy, 178
Demonetisation, 74, 113
Department of Agriculture and Farmer welfare, 125
Department of Electronics and Information Technology (DeiTY), 97
Depositories Act (1956), 57–58
Derivatives, 54–55
Development projects, valuation of, 180–182
objectives of national policy, 181–182
Dhokra Community in India, case study of, 32–33
Digital banking, 71
Digital Banks, 73
Digital capital, 115–116
Digital currencies, 94
Digital empowerment of citizens, 99
Digital engagement, 71–73
Digital financial inclusion, 62–63, 70, 90, 124
initiatives, 63–64
progress of digital financial inclusion in India, 74–75
Digital financial services, 112
Digital financial system
case study, 84–88
difference between technology users and non-users, 73–74
digital shift and organizational agility, 76–81
electronic payment systems, 75
existing rift between digital policies and objective of banking, 71–73
Ingreso Solidaro, 69–70
issues and challenges to financial system in India, 88
perspectives on dynamic punctuated equilibrium model, 81–84
policy framework for digital inclusion, 70–71
Pradhan Mantri Jan Dhan Yojana, 75–76
progress of digital financial inclusion in India, 74–75
real time gross settlements, 75
social organisations, 88–89
technological identity, 73
Digital inclusion system, 63–64, 69–70
policy framework for, 70–71
social perspective, 69–70
Digital India, 64, 96–97
contract theory and need for governance structure, 98
digital empowerment of citizens, 99
digital infrastructure, 99
governance and services on demand, 99
nine pillars of, 99–101
pillars of, 99
programme, 64
vision of Digital India, 97–98
Digital infrastructure, 99
Digital initiatives, 63–64
Digital literacy, 73, 120, 166, 168
environment, 71–73
Digital money, 96–97
cashless economy, 96–97
digital India, 97
Digital payment, 96
Digital policies, existing rift between objective of banking and, 71–73
Digital products, 108
Digital revolution, The, 71
Digital services in India, 108–111
Digital Shift, 76–81
Digital technology, 70–71, 96
Digital village, 84–88
social innovation, 84–88
Digitisation, 89, 96, 141
benefits of, 116–117
of bombay stock exchange, 48
financial perspective, 48
of Ghazipur Mandi, 13–14
Digitising banking platforms, 53
Direct benefit transfers, 144–146
Discriminatory forces, 7–8
District Central Cooperative Banks (DCCBs), 129
Domestic Violence Act (2005), 150
Dynamic Punctuated Equilibrium model, 89
perspectives on, 81–84
E Kranti movement of India, 64
E-commerce, 114
E-Know your customer (e-KYC), 71
E-Marketing (e-NAM), 125–128
E-SHAKTI programme, 184–187
Economic efficiency, 166
Economic welfare of citizens, 162–163
Economy, role of financial intermediary in, 53–54
Electronic economy, 114–115
Electronic governance (e-Governance), 98–99, 103
benefits of e-governance, 104
computerisation, 103
e-governance initiatives in India, 106
financial inclusion in India, 106–108
four pillars of e-governance, 104
goals and objectives of, 105
in India, 98–99
interconnectivity, 103
interface, 103
national e-governance plan, 103
networking, 103
pillars of digital India, 99
reforming e-government through technology, 102–108
stages in, 103
types of interactions in e-Governance, 104
use of technology by financial institutions, 106–107
Electronic payment system, 75, 106–107
Emotional capital, 116
Employee State Insurance Scheme, 156
Empowerment, 184–187
empowerment zone strategy, 28
strategy, 28–30
EMV-based Aadhar identification card, 114
Endogenous growth theory, 11–12
‘Equity Grant and Credit Guarantee Scheme’, 131–132
Establishment of Rural Banks (1982), 25
Externalities, 164–168
externalities of self-help groups, 166–168
issue with business decision, 165–166
measures to mitigate negative externalities, 168
positive externalities, 165
social costs, 165
Extreme poverty, 2–3
Farmer Producer Companies (FPOs), 131–132
Farmer Producer Organizations (FPOs), 131
Finance
formal vs. informal sources of, 131
informal sources of, 132–133
services, 184–187
Finance Ministry in India, 74
Financial autonomy, 36–37
Financial capital markets, 121–122
Financial contracting, 53
Financial economy, 48–49
Financial exclusion, 59–60, 173–174
Financial inclusion, 12–13, 47, 60, 62–63, 70, 74, 114, 150–151
impact of, 10–12
benefits of, 116–117
factors that impact, 63–64
in India, 106–108
plan, 74
process, 70
system, 62–64
Financial institutions, 51, 53, 60, 134
use of technology by, 106–107
Financial intermediaries, 49–51, 53, 120–121
in Indian financial system, 58–59
nature of markets and role of, 54
role in economy, 53–54
value creation and role of, 54
Financial intermediation, 51, 53, 64–65
Financial literacy, 60–62, 134–135
campaigns, 125
Financial Markets, 55, 59
Financial regulatory authority, 57
Financial system, 48–49
approach, 12–13
in India, 51, 53, 120–123
issues and challenges to financial system in India, 88
stakeholders in, 51–59
Fintech Companies, 113–114
Flame of Forest Blooms, 27
Flower industry of Meghalaya, 23–24
Forest rights case study Koska Village, 169–170
social perspective, 169–170
Formal bank systems, 132
Formal sources of finance. See also Informal sources of finance, 131
Free economy, 50
Freedom, 16
G20 Summit (2010), 70
Gender Equality, women empowerment and, 149–151
Gender inequality, 5–7
Ghazipur Mandi, digitisation and modernisation of, 13–14
Governance
honest form of, 16
and services on demand, 99
Government, The, 15
payments, 95
schemes, 11–12
transfers, 5, 7, 11–12
Government action
for health and social security, 156–157
for poverty reduction, 155–156
for women’s empowerment, 157
Government of India, The, 57, 61–64, 71, 73–74, 86, 100–101, 106–107, 127, 139, 156–157
scheme, 126–127
Government role to ensure economic &social welfare
approaches to social welfare, 169–171
challenges to social welfare scheme, 171–175
digitization of social project evaluation, 184–187
externalities, 164–168
Mid-Day Meal Scheme, 161–162
Pareto optimality and social evil of poverty, 163–164
principle of social values, 179–180
social benefit analysis, 182–184
social planning and social welfare, 176–179
valuation of development projects, 180–182
Government to business (G2B), 104
Government to citizens (G2C), 104
Government to government (G2G), 104
Grameen Bank, The, 12–13
Gross Domestic Product (GDP), 50, 155
Group lending, 49–50, 120
paradox of moral hazard in group lending scenario, 26–27
Handicraft industry in Nepal, 2
social perspective, 2
Health
case study of initiatives in domain of health security, 148–149
government action for, 156–157
Hindu texts, 8–9
Hinduism, 9
Horizontal coordination, 34
Horizontal social capital, 34
Horticulture, 127
Human Development Report, 3–4
Human Rights, 144, 147, 149, 151–152, 154
approach to SDG, 154–157
case study of initiatives in domain of health and social security, 148–149
case study of Kuttanad, Kerala, 153–154
case study of women community group, 151
challenges to ensuring human rights for all citizens, 157–158
government action for health and social security, 156–157
government action for poverty reduction, 155–156
government action for women’s empowerment, 157
indigenous people’s right to self-determination, 152–153
initiatives for climate change, 155
Immediate Payment Services (IMPS), 108, 111
Incentive Focussed Strategy, 182
Inclusive financial system, 59–60, 121–122
ATMA, 127–128
Bank Accounts and Kisan Credit Cards, 130
challenges to, 133–141
challenges to inclusive financial systems, 133–141
comparison with Indian scenario, 125–126
demand side barriers, 133–137
digital and financial inclusive system, 62–64
digitisation of bombay stock exchange, 48
factors that impact financial inclusion, 63–64
farmer producer companies and organised farmers, 131
financial intermediation and social intermediation, 64–65
financial literacy and financial inclusion, 60–62
financial systems in India, 120–123
formal vs. informal sources of finance, 131
inclusive financial system, 59–60
Indian agriculture, 128–129
Indian financial systems, 49–51
informal sources of finance, 132–133
institutional credit, 129
issues in Indian Agricultural Credit System, 129–130
Kisan Credit Card Ownership and land holdings, 130
literacy and impact on Kisan credit card ownership, 130
MNAIS, 126–127
organised farmers, 131
outreach and usage, 61–62
particular focus on rural agricultural finance, 124–125
PMJDY, 119–120
Pradhan Mantri Fasal Bima Yojana, 128
price support scheme and e-NAM, 127–128
priorities in, 120
Rashtriya Krishak Vikas Yojana, 127
rural and urban divide in KCC, 130
small farmer coverage, 131–132
stakeholders in financial system, 51–59
subsidy linked schemes, 129
supply-side barriers, 137–141
UN sustainable development goals and role of Indian Government, 61–62
Inclusive money markets in India, 57–58
India, 8, 97–98, 119–120
case study of Dhokra community in, 32–33
case study of self-help group in, 35–36
e-Governance in, 98–99
e-governance initiatives in, 106
financial inclusion in, 106–108
financial systems in, 120–123
inclusive money markets in, 57–58
issues and challenges to financial system in, 88
payment banks in, 112–113
progress of digital financial inclusion in, 74–75
social capital in context of microfinance in, 36–38
stack, 114
transforming India’s Digital Payment Landscape, 108–112
Indian Agricultural Credit System, 132
issues in, 129–130
Indian agriculture, 128–130
Indian agriculturists, 129–130
Indian constitution, 8
Indian context, 36–37
Indian economic system, 120
Indian economy, 125–126, 128–129, 152, 162–163
Indian financial systemsystems, 49, 51, 53
financial intermediaries in Indian financial system major, 58–59
Indian forests, 169
Indian Government, The, 3–5, 7, 70–71, 74, 126, 155
UN sustainable development goals and role of, 61–62
Indian stack, 101–102
Indigenous people’s right to self-determination, 152–153
Indira Awas Yojana (IAY), 149
Indira Gandhi Old Age Pension Scheme (IGNOPAS), 149
Indus valley civilisation, 8–9
Inequalities, 8, 10, 158
Informal Borrowing and Lending programme, 25
Informal sources of finance. See also Formal sources of finance, 131–133
borrowings from self-help groups, 132–133
money lenders, 132
Information Communication Technology (ICT), 25–26, 60, 62–63, 70–71, 73, 96, 116, 184, 187
platforms, 74
Information Technology (IT), 73, 100–101
project, 81
Information technology-enabled services (ITES), 100–101
Initial Public Offering (IPO), 48, 58
Institutional capacity, 19
Institutional credit, 129
Instrumental relevance, 13
Insurance, 44
companies, 59
Integrated Child Development Scheme, 162–163
Integrated farming, 127
Interactions in e-Governance, types of, 104
Internal Working Committee, 57
International Labour Organisation (ILO), 2–3, 147–148
International Monetary Funds (IMF), 95–96
International Year of Financial Inclusion, 10–11
Internationalisation, 53
Investment contracts, 53
Ippimala (hilltop), 33–34
Islam, 9
‘Jal Jeevan Mission’, 147–148
Joint Forest Management Act, 169
Joint Forest Management Committee, 170
Kisan Credit Card (KCC), 130, 139
literacy and impact on, 130
ownership, 130
scheme, 124–126, 129–130
Know Your Customer (KYC), 108
Kudumbu (house of Paniya), 33
Land holdings, 130
Lenders, 122–123
Liberalisation, 53
LIFE (movement), 155
Liquidity Adjustment Facility (LAF), 55, 57
Loan commitment, 49–50
Local communities, 33–34
Machine learning, 102–103
Macro-level factors, 74
Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA Act), 127, 148–149, 155–156, 162–164
Mahatma Gandhi National Rural Employment Guarantee Act (2005) (MGNREGA), 157
Mandatory System of Priority Lending (1972), 25
Manjadikuru (lucky red seeds), 33–34
Market
capitalism, 19–20
market-based approach, 53
nature of markets and role of financial intermediaries, 54
stabilisation system, 57
Marketing systems, 19
Material possession, 16
Materiality, 180
Maternity benefit act (2017), 150
Media, 42
Medium and Small Enterprises (MSME), 140
Medium Small Enterprise (MSE), 140
Meghalaya, flower industry and village community of, 23–24
Meghraj (service), 100–101
Mesopotamians, 94
Micro level factors, 74
Micro-Automated Teller Machines (Micro-ATMs), 147
Microfinance, 27, 39, 41, 86
microfinance-based model, 39
programme, 164–165
Microfinance in India, 88
social capital in context of, 36–38
Microfinance institutions (MFI), 34, 88, 138
lending by, 138
Mid-Day Meal (MDM), 163–164
Scheme, 161–162
Ministry of Finance, The, 57
Mission Drift, 12–13
Mobile Banking, 74
Mobile Wallets, 74
Modernisation of Ghazipur Mandi, 13–14
Modified National Agricultural Insurance Scheme (MNAIS), 126–127
Money, 94–95
markets, 55
repo rate, 55
Multiple Performance Evaluation systems, 181–182
Mutual Funds, 59
Mutually Aided Cooperative Society (MAC Society), 42–43
Mysore Resettlement and Development Agency (MYRADA), 25, 86
NABARD, 5, 7, 24, 26–27, 44, 60, 86, 130
panchsutras, 25
Nachiket Mor Committee, The, 70–71, 107–108
Narasimhan Committee, The, 51, 53, 57
National Agricultural Markets, 127–128
National Automated Clearing Systems (NACH), 93–94
National Centre for Financial Education, 60
National e-Governance Plan (NeGP), 62–63, 103, 105, 107–108
National Electronic Toll Collection System (NETC), 108–111
National Financial Switch (NFS), 93–94
National Food Security Act (NFSA), 156–157
National Health Mission (NHM), 156
National Human Right Institutions, 144
National Identification Number, 101–102
National Informatics Centric (NICS), 106
National Institute of Mental Health and Neuro Sciences (NIMHANS), 157
National Livelihood Mission, 155–156
National Payment Corporation of India (NPCI), 70–71, 101–102
National Planning Committee, 2–3
National policy, objectives of, 181–182
agency problem and social projects, 181–182
National Rural Employment Guarantee Scheme, 162–163
National Rural Health Mission (NRHM), 163–164
National Rural Livelihood Mission (NRLM), 43, 139, 184, 187
National Sample Survey Organization (NSSO), 129
National Social Assistance Programme, 155–156
National Stock Exchange (NSE), 57
Nationalisation of banks, 25
Negative externalities, 166–168
Negotiation process, 7–8
Neo-banking, 73–74
Neo-liberal market theory, 120
Networks, 30–31
social capital and information flow through, 35–36
New India Strategy (2022), 155–156
NICNET (satellite-based computer network), 106
NITI Aayog, 108
No Objection Certificate (NOC), 131
Noble Committee, The, 1
Non-banking Financial Companies, 59
Non-government organisation (NGO), 25, 31–33, 44
NGO PRADAN, 25
Non-Performing Assets (NPAs), 51, 53, 140
Office of the High Commissioner for Human Rights, The, 144
Online applications, 96–97
Oolay (earrings of Paniya tribe), 33–34
Opportunity Cost Principle, 182
Organisational agility, 76–81
Organisations, example of social capital in, 34
Organised farmers, 131
Organizational agility, 76–81
Paadi (house of Paniya Tribe), 33
Panchayati Raj Institution, 184–187
Paniya Tribe, example of social capital in, 33–34
Paradox of moral hazard in group lending scenario, 26–27
Pareto optimalityof poverty, 163–164
‘Paris Agreement’, 152
Paris Convention, The, 152
Payment Banks, 108
in India, 112–113
Peer pressure, 25
Performance incentives, lack of, 173
Personal Identification Number (PIN), 102
Phishing, 140–141
Piloting and Mainstreaming of SHG Movement in (1992–1996), 25
Pire (house of Paniya), 33
Planning process, 176
Point of Sales (PoS), 75
Policy
ecosystem, 108
financial inclusion policy factors, 63–64
framework for digital inclusion, 70–71
Positive externalities, 165
Post-Washington consensus’, 19–20
Poverty, 2–3, 5, 7, 24, 158, 173–174
bedrock of, 5–7
case study on poverty reduction in Akodara Village, Gujarat, 146–147
digitisation and modernisation of Ghazipur Mandi, 13–14
dimensions of, 15
factors of constitutive relevance, 7–10
factors of instrumental importance, 10–14
impact of financial inclusion, 10–12
government action for, 155–156
handicraft industry in Nepal, 2
importance of capacity building, 19
paradigms of, 2
Pareto optimality and social evil of, 163–164
poverty reduction and women empowerment, 5–7
reduction, 144–147
under SBLP, 25–27
strategies for poverty reduction, 18–19
SDG and, 14–15
trade-off between profitability and social objectives, 12–13
Pradhan Mantri Awas Yojana, 155–156
Pradhan Mantri Fasal Bima Yojana, 128
Pradhan Mantri Gram Sadak Yojana, 155–156
Pradhan Mantri Gramin Digital Saksharta Abhiyaan (PMDISHA), 63–64
Pradhan Mantri Jan Dhan Yojana (PMJDY), 61–62, 71, 74–76, 86, 90, 102, 106–108, 119–120, 139, 156
social perspective, 119–120
Pradhan Mantri Jeevan Beema Yojana (PMJBY), 147–148
Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), 156–157
Pradhan Mantri Ujjwala Yojana (PMUY), 157
Pre-paid instruments (PPI), 108–111
Price Support Scheme, 127–128
Primary Agriculture Cooperatives (PACs), 129, 131
Prime Minister’s Employment Generation Programme (PMEGP), 157
Producer Companies, 131
Public Distribution System (PDS), 148–149, 162–163
Public Private Partnership (PPP), 151–152
Racism, 7–8
Rangarajan Committee, 2–3
Ransomware, 140
Rape, 5–7
Rashtriya Krishak Vikas Yojana, 127
Rashtriya Swasthya Bima Yojana (RSBY), 148–149
Real Time Gross Settlements (RTGS), 75
Regional Rural Banks (RRBs), 129, 139
Relational poverty, 8–10
Relational social capital, 30–32
Religious activities, 164
Reserve Bank of India (RBI), 10–11, 57, 60, 70–71, 108, 114, 131, 139
Resource-based view (RBV), 38, 86, 88
Resources, 39
Responsibility, 144–146
Return on investment (ROI), 12–13, 88, 175
Rig Veda, 8–9
Right to education, 149–150
Right to Health and Social Security, 147–149
Rio Declaration (1992), 154–155
Risk management technology, 106–107
RuPAY, 108
Rural agricultural finance, particular focus on, 124–125
Saltwater barrier, 154
Sarv Shiksha Abhiyaan (SSA), 163–164
Savings groups for poverty alleviation in Rajasthan, 25
SBLP, poverty and social contract under, 25–27
Scale of Finance (SOF), 129–130
Securities and Contracts Regulations Act (1956), 57–58
Securities and Exchange Board of India (SEBI), 57–58, 122, 136
SEBI Act (1992), 57–58
Self Finance Group, 184–187
Self-determination, indigenous people’s right to, 152–153
Self-Help Group (SHG), 25–27, 36–37, 43–44, 125, 166, 168
borrowings from, 132–133
case study of SHG in India, 35–36
externalities of, 166–168
linkage, 132–133
linkage programme, 25
Rehman and self-help promoting institute helping to form, 143–144
SHG bank linkage programme, 84–88
social perspective, 143–144
technology acceptance model, 86–88
Self-Help Group Bank Linkage Program (SBLP), 24, 44–45, 132–133
Self-Help Promoting Institution (SHPI), 31–32, 143–144
Rehman and SHPI helping to form self-help groups, 143–144
Semi-formal group lending, 123
Sericulture, 127
Shock therapy-based neoliberalism, 19–20
Shyama Prasad Mukherjee Rural Urban Mission (SPMRM), 155–156
Sikhism, 9
Simple, Moral, Accountable, Responsive, and Transparent (SMART), 105
Skill Development Programme, 155–156
Social activities, 162–163
Social benefit analysis, 182–184
principle to determine benefit of social project, 182–184
Social capital, 40–41, 88–89, 115–116
case study of Banswara Village, 27
case study of Dhokra Community in India, 32–33
case study of self-help group in India, 35–36
community, 39–41
community organisations, 41
in context of microfinance in India, 36–38
dimensions of social capital, 32–33
example of social capital in organisations, 34
example of social capital in Paniya Tribe, 33–34
flower industry and village community of Meghalaya, 23–24
and information flow through networks, 35–36
MAC Society, 42–43
metaphor of capital, 30–31
paradox of moral hazard in group lending scenario, 26–27
poverty and social contract under SBLP, 25–27
principles of Community Organisations, 41–44
role of social capital as collateral, 27–30
self-help group, 43–44
self-help group linkage programme, 25
social capital and exchange, 33–34
social organisation and role in promoting social capital, 38–39
social perspective, 23–24
structuralist approach to social capital, 31–32
systems view of, 28–30
Social Cohesion, 16, 25–26
Social contract, 25–26, 37–38
under SBLP, 25–27
Social costs, 165
measures tomitigate, 178–179
Social development process, 133–134
Social discrimination, 158
Social environment, 71–73
Social evil of poverty, 163–164
Social exclusion, 5, 7–8
Social factors role in adoption of technology, 73
‘Social injustice’, 2–3
Social innovation, 84–88
Social intermediation, 64–65
Social mobility, 16
Social networks, 71–73
Social organisations, 88–89
and role in promoting social capital, 38–39
Social planning, 176–179
challenges to social policy, 176–177
measures to mitigate social costs, 178–179
role of social policy in social, 178
Social policy, 176
challenges to, 176–177
for developmental projects, 170–171
role in social, 178
Social projects, 180–182
digitization of social project evaluation, 184–187
principle to determine benefit of, 182–184
Social protection schemes, 147–149
Social scheme, 144, 146, 161–162
Social security
case study of initiatives in domain of, 148–149
Government action for, 156–157
Social structure, 162–163
Social systems, 174–175
Social values, principle of, 179–180
Social welfare, 163–164, 176, 179, 182–183
activities, 162–163
approaches to, 169–171
basic principles of, 164
challenges to, 171–175
challenges to social policy, 176–177
changes, 162–163
of citizens, 162–163
forest rights case study Koska Village, 169–170
measures to mitigate social costs, 178–179
programmes, 164–165
role of social policy in social, 178
schemes, 5, 7, 162–163
social policy for developmental projects, 170–171
Soil harvesting, 127
Spoofing, 141
SRLM, 184–187
Stakeholders, 179–180
in financial system, 51–59
inclusive money markets in India, 57–58
major financial intermediaries in Indian financial system, 58–59
nature of markets and role of financial intermediaries, 54
role of financial intermediary in economy, 53–54
supply-side factors, 54–55
value creation and role of financial intermediaries, 54
State Cooperative Banks (SCBs), 129
State Service Delivery Gateway (SSDG), 64
State Wide Area Network (SWAN), 64
Stockholm Declaration (1972), 154–155
Structural factors, financial inclusion, 63–64
Structural social capital, 30–33
Structural sources, 30–31
Structuralist approach to social capital, 31–32
Subsidies, 11–12, 144, 146
subsidy linked schemes, 129
subsidy-linked insurance schemes, 131–132
Sukanya Smridhi scheme, 5–7
Supply-factors, 54–55
Supply-side barriers, 137–141
Supply-side factors, 54–55
Sustainable Development Goal (SDG), 2–3, 14–15, 149–150, 152
case study of Kuttanad, Kerala, 153–154
case study of women community group, 151
climate change, 152–154
human rights approach to, 154–157
indigenous people’s right to self-determination, 152–153
poverty reduction, 144–147
right to health and social security, 147–149
women empowerment and gender equality, 149–151
‘Swachh Bharat Mission’, 147–148
Swarn Jayanti Gram Swarozgar Yojana (SGSY), 148–149, 163–164
Synthetic products, 54
Technological identity, 73
Technology, 76, 81, 96
difference between technology users and non-users, 73–74
reforming E-government through, 102–108
social factors role in adoption of, 73
use of technology by financial institutions, 106–107
Transaction cost, 166
Transparency, 180
Treasury Bills, 55, 57
UN Framework Convention on Climate Change (UNFCCC), 155
Unified Payment Interface (UPI), 70–71, 111–112
Unique Identification Number (UID), 62–63, 107–108
Unique Payment Identification (UPI), 96–97, 108
United Nations (UN), 14, 144
UN Development Group, 144
UN SDGs, 15, 144, 146
UN sustainable development goals and role of Indian Government, 61–62
United Nations Economics and Social Council (1988), 3–4
Universal Declaration of Human Rights, 147–148
Unstructured Supplementary Service Data (USSD), 96–97
Valuable, inimitable and rare organisational resources (VRIO resources), 38, 88–89
Value creation, 54–55
and role of financial intermediaries, 54
Vedas, 8–9
Vienna Convention, 152
Village community of Meghalaya, 23–24
Water harvesting, 127
Welfare system, inequalities within, 174–175
Welfarist state policy, 144–146
Women community group, case study of, 151
Women empowerment, 124, 184, 187
and gender equality, 149–151
government action for, 157
poverty reduction and, 5–7
World Bank, The, 2–4, 25, 95–96
World Trade Organization (WTO), 95–96
Zero Hunger, 14
Call Money, 55
Canadian International Development Agency (CIDA), 25
Capacity building
importance of, 19
initiatives, 5–7
Capital
formation, 50
metaphor of, 30–31
Cash, 94
transfers, 162–163
Cash Benefit scheme, 162–163
Cash-in cash-out (CICO), 114
Cashless economy, 96–97
challenges to, 114–116
digital capital, 115–116
of India, 93–94
social perspective, 93–94
Cashless financial systems
benefits of financial inclusion and digitization, 116–117
cashless economy of India, 93–94
challenges to cashless economy, 114–116
digital money, 96–97
e-Governance in India, 98–99
financial inclusion and consumer data protection, 114
Fintech Companies, 113–114
Indian stack, 101–102
nine pillars of Digital India, 99–101
Payment Banks in India, 112–113
policy ecosystem, 108
reforming e-government through technology, 102–108
transforming India’s digital payment landscape, 108–112
vision of digital India, 97–98
Casteism, 7–8
Central Bank of India, The, 60, 114
Central Government Health Scheme (CGHS), 156
Central sector schemes, 127–128
Centre for Monitoring Indian Economy (CMIE), 130
Centre for Water Resources Development and Management (CWRDM), 153–154
Certificate of deposits, 55, 65, 143–144, 184, 187
Choonthumani (earrings of Paniya tribe), 33–34
Circular flow of money in economy, 50–51
Climate Change, 152–154
initiatives for, 155
Climate refugees, 153–154
Cluster approach, 42
Cognitive social capital, 27
Collateral-free lending system, 132–133
Collateralised Borrowing and Lending Obligation (CBLO), 55, 57
Colonial capital, 40–41
Commercial banks, 51, 53, 59
Commercial Bills, 55
Commercial Paper, 55
Common Services Centre (CSC), 64
Community, 39–41
community-based organisations, 170
community-led endeavours, 150–151
forest management, 170
organisations, 39, 41
principles of, 41–44
Community resource person (CRP), 44
Companies Act (1956), 57–58
Companies Act (2013), 131
Conducive legal system, 175
Constitutive relevance
inequality and relational poverty, 8–10
poverty due to factors of, 7–10
of social exclusion, 9–10
impact of socio-cultural factors, 7–8
Consumer data protection, 114
Consumer Price Index (CPI), 131
Contract theory and need for governance structure, 98
Cooperative Banks, 129
Corporate Social Responsibility Act (CSR Act), 147–148, 173
Corruption, 158
COVID-19, 2–3, 36
pandemic, 69–70
Credit Cards, 74
Credit Clearing Corporation of India, The, 55
Credit Guarantee Fund, 140
Credit Rating Agencies (CRAs), 136
Credit Rating Information Services of India (CRISIL), 135–136
Credit Reporting Systems, 135–136
Crimes, 5–7
Crop Husbandry, 127
Cultural capital, 115–116
Cultural factors, 133–134
Cyber security, 141
DAY National Rural Livelihood Mission (DAY NRLM), 36–37
Decentralisation, 139
Deen Dayal Antyodaya Yojana, 155–156
Delhi Government, 13–14
Deltaic wetland, 153
Demand side barriers, 133–137
Democracy, 178
Demonetisation, 74, 113
Department of Agriculture and Farmer welfare, 125
Department of Electronics and Information Technology (DeiTY), 97
Depositories Act (1956), 57–58
Derivatives, 54–55
Development projects, valuation of, 180–182
objectives of national policy, 181–182
Dhokra Community in India, case study of, 32–33
Digital banking, 71
Digital Banks, 73
Digital capital, 115–116
Digital currencies, 94
Digital empowerment of citizens, 99
Digital engagement, 71–73
Digital financial inclusion, 62–63, 70, 90, 124
initiatives, 63–64
progress of digital financial inclusion in India, 74–75
Digital financial services, 112
Digital financial system
case study, 84–88
difference between technology users and non-users, 73–74
digital shift and organizational agility, 76–81
electronic payment systems, 75
existing rift between digital policies and objective of banking, 71–73
Ingreso Solidaro, 69–70
issues and challenges to financial system in India, 88
perspectives on dynamic punctuated equilibrium model, 81–84
policy framework for digital inclusion, 70–71
Pradhan Mantri Jan Dhan Yojana, 75–76
progress of digital financial inclusion in India, 74–75
real time gross settlements, 75
social organisations, 88–89
technological identity, 73
Digital inclusion system, 63–64, 69–70
policy framework for, 70–71
social perspective, 69–70
Digital India, 64, 96–97
contract theory and need for governance structure, 98
digital empowerment of citizens, 99
digital infrastructure, 99
governance and services on demand, 99
nine pillars of, 99–101
pillars of, 99
programme, 64
vision of Digital India, 97–98
Digital infrastructure, 99
Digital initiatives, 63–64
Digital literacy, 73, 120, 166, 168
environment, 71–73
Digital money, 96–97
cashless economy, 96–97
digital India, 97
Digital payment, 96
Digital policies, existing rift between objective of banking and, 71–73
Digital products, 108
Digital revolution, The, 71
Digital services in India, 108–111
Digital Shift, 76–81
Digital technology, 70–71, 96
Digital village, 84–88
social innovation, 84–88
Digitisation, 89, 96, 141
benefits of, 116–117
of bombay stock exchange, 48
financial perspective, 48
of Ghazipur Mandi, 13–14
Digitising banking platforms, 53
Direct benefit transfers, 144–146
Discriminatory forces, 7–8
District Central Cooperative Banks (DCCBs), 129
Domestic Violence Act (2005), 150
Dynamic Punctuated Equilibrium model, 89
perspectives on, 81–84
E Kranti movement of India, 64
E-commerce, 114
E-Know your customer (e-KYC), 71
E-Marketing (e-NAM), 125–128
E-SHAKTI programme, 184–187
Economic efficiency, 166
Economic welfare of citizens, 162–163
Economy, role of financial intermediary in, 53–54
Electronic economy, 114–115
Electronic governance (e-Governance), 98–99, 103
benefits of e-governance, 104
computerisation, 103
e-governance initiatives in India, 106
financial inclusion in India, 106–108
four pillars of e-governance, 104
goals and objectives of, 105
in India, 98–99
interconnectivity, 103
interface, 103
national e-governance plan, 103
networking, 103
pillars of digital India, 99
reforming e-government through technology, 102–108
stages in, 103
types of interactions in e-Governance, 104
use of technology by financial institutions, 106–107
Electronic payment system, 75, 106–107
Emotional capital, 116
Employee State Insurance Scheme, 156
Empowerment, 184–187
empowerment zone strategy, 28
strategy, 28–30
EMV-based Aadhar identification card, 114
Endogenous growth theory, 11–12
‘Equity Grant and Credit Guarantee Scheme’, 131–132
Establishment of Rural Banks (1982), 25
Externalities, 164–168
externalities of self-help groups, 166–168
issue with business decision, 165–166
measures to mitigate negative externalities, 168
positive externalities, 165
social costs, 165
Extreme poverty, 2–3
Farmer Producer Companies (FPOs), 131–132
Farmer Producer Organizations (FPOs), 131
Finance
formal vs. informal sources of, 131
informal sources of, 132–133
services, 184–187
Finance Ministry in India, 74
Financial autonomy, 36–37
Financial capital markets, 121–122
Financial contracting, 53
Financial economy, 48–49
Financial exclusion, 59–60, 173–174
Financial inclusion, 12–13, 47, 60, 62–63, 70, 74, 114, 150–151
impact of, 10–12
benefits of, 116–117
factors that impact, 63–64
in India, 106–108
plan, 74
process, 70
system, 62–64
Financial institutions, 51, 53, 60, 134
use of technology by, 106–107
Financial intermediaries, 49–51, 53, 120–121
in Indian financial system, 58–59
nature of markets and role of, 54
role in economy, 53–54
value creation and role of, 54
Financial intermediation, 51, 53, 64–65
Financial literacy, 60–62, 134–135
campaigns, 125
Financial Markets, 55, 59
Financial regulatory authority, 57
Financial system, 48–49
approach, 12–13
in India, 51, 53, 120–123
issues and challenges to financial system in India, 88
stakeholders in, 51–59
Fintech Companies, 113–114
Flame of Forest Blooms, 27
Flower industry of Meghalaya, 23–24
Forest rights case study Koska Village, 169–170
social perspective, 169–170
Formal bank systems, 132
Formal sources of finance. See also Informal sources of finance, 131
Free economy, 50
Freedom, 16
G20 Summit (2010), 70
Gender Equality, women empowerment and, 149–151
Gender inequality, 5–7
Ghazipur Mandi, digitisation and modernisation of, 13–14
Governance
honest form of, 16
and services on demand, 99
Government, The, 15
payments, 95
schemes, 11–12
transfers, 5, 7, 11–12
Government action
for health and social security, 156–157
for poverty reduction, 155–156
for women’s empowerment, 157
Government of India, The, 57, 61–64, 71, 73–74, 86, 100–101, 106–107, 127, 139, 156–157
scheme, 126–127
Government role to ensure economic &social welfare
approaches to social welfare, 169–171
challenges to social welfare scheme, 171–175
digitization of social project evaluation, 184–187
externalities, 164–168
Mid-Day Meal Scheme, 161–162
Pareto optimality and social evil of poverty, 163–164
principle of social values, 179–180
social benefit analysis, 182–184
social planning and social welfare, 176–179
valuation of development projects, 180–182
Government to business (G2B), 104
Government to citizens (G2C), 104
Government to government (G2G), 104
Grameen Bank, The, 12–13
Gross Domestic Product (GDP), 50, 155
Group lending, 49–50, 120
paradox of moral hazard in group lending scenario, 26–27
Handicraft industry in Nepal, 2
social perspective, 2
Health
case study of initiatives in domain of health security, 148–149
government action for, 156–157
Hindu texts, 8–9
Hinduism, 9
Horizontal coordination, 34
Horizontal social capital, 34
Horticulture, 127
Human Development Report, 3–4
Human Rights, 144, 147, 149, 151–152, 154
approach to SDG, 154–157
case study of initiatives in domain of health and social security, 148–149
case study of Kuttanad, Kerala, 153–154
case study of women community group, 151
challenges to ensuring human rights for all citizens, 157–158
government action for health and social security, 156–157
government action for poverty reduction, 155–156
government action for women’s empowerment, 157
indigenous people’s right to self-determination, 152–153
initiatives for climate change, 155
Immediate Payment Services (IMPS), 108, 111
Incentive Focussed Strategy, 182
Inclusive financial system, 59–60, 121–122
ATMA, 127–128
Bank Accounts and Kisan Credit Cards, 130
challenges to, 133–141
challenges to inclusive financial systems, 133–141
comparison with Indian scenario, 125–126
demand side barriers, 133–137
digital and financial inclusive system, 62–64
digitisation of bombay stock exchange, 48
factors that impact financial inclusion, 63–64
farmer producer companies and organised farmers, 131
financial intermediation and social intermediation, 64–65
financial literacy and financial inclusion, 60–62
financial systems in India, 120–123
formal vs. informal sources of finance, 131
inclusive financial system, 59–60
Indian agriculture, 128–129
Indian financial systems, 49–51
informal sources of finance, 132–133
institutional credit, 129
issues in Indian Agricultural Credit System, 129–130
Kisan Credit Card Ownership and land holdings, 130
literacy and impact on Kisan credit card ownership, 130
MNAIS, 126–127
organised farmers, 131
outreach and usage, 61–62
particular focus on rural agricultural finance, 124–125
PMJDY, 119–120
Pradhan Mantri Fasal Bima Yojana, 128
price support scheme and e-NAM, 127–128
priorities in, 120
Rashtriya Krishak Vikas Yojana, 127
rural and urban divide in KCC, 130
small farmer coverage, 131–132
stakeholders in financial system, 51–59
subsidy linked schemes, 129
supply-side barriers, 137–141
UN sustainable development goals and role of Indian Government, 61–62
Inclusive money markets in India, 57–58
India, 8, 97–98, 119–120
case study of Dhokra community in, 32–33
case study of self-help group in, 35–36
e-Governance in, 98–99
e-governance initiatives in, 106
financial inclusion in, 106–108
financial systems in, 120–123
inclusive money markets in, 57–58
issues and challenges to financial system in, 88
payment banks in, 112–113
progress of digital financial inclusion in, 74–75
social capital in context of microfinance in, 36–38
stack, 114
transforming India’s Digital Payment Landscape, 108–112
Indian Agricultural Credit System, 132
issues in, 129–130
Indian agriculture, 128–130
Indian agriculturists, 129–130
Indian constitution, 8
Indian context, 36–37
Indian economic system, 120
Indian economy, 125–126, 128–129, 152, 162–163
Indian financial systemsystems, 49, 51, 53
financial intermediaries in Indian financial system major, 58–59
Indian forests, 169
Indian Government, The, 3–5, 7, 70–71, 74, 126, 155
UN sustainable development goals and role of, 61–62
Indian stack, 101–102
Indigenous people’s right to self-determination, 152–153
Indira Awas Yojana (IAY), 149
Indira Gandhi Old Age Pension Scheme (IGNOPAS), 149
Indus valley civilisation, 8–9
Inequalities, 8, 10, 158
Informal Borrowing and Lending programme, 25
Informal sources of finance. See also Formal sources of finance, 131–133
borrowings from self-help groups, 132–133
money lenders, 132
Information Communication Technology (ICT), 25–26, 60, 62–63, 70–71, 73, 96, 116, 184, 187
platforms, 74
Information Technology (IT), 73, 100–101
project, 81
Information technology-enabled services (ITES), 100–101
Initial Public Offering (IPO), 48, 58
Institutional capacity, 19
Institutional credit, 129
Instrumental relevance, 13
Insurance, 44
companies, 59
Integrated Child Development Scheme, 162–163
Integrated farming, 127
Interactions in e-Governance, types of, 104
Internal Working Committee, 57
International Labour Organisation (ILO), 2–3, 147–148
International Monetary Funds (IMF), 95–96
International Year of Financial Inclusion, 10–11
Internationalisation, 53
Investment contracts, 53
Ippimala (hilltop), 33–34
Islam, 9
‘Jal Jeevan Mission’, 147–148
Joint Forest Management Act, 169
Joint Forest Management Committee, 170
Kisan Credit Card (KCC), 130, 139
literacy and impact on, 130
ownership, 130
scheme, 124–126, 129–130
Know Your Customer (KYC), 108
Kudumbu (house of Paniya), 33
Land holdings, 130
Lenders, 122–123
Liberalisation, 53
LIFE (movement), 155
Liquidity Adjustment Facility (LAF), 55, 57
Loan commitment, 49–50
Local communities, 33–34
Machine learning, 102–103
Macro-level factors, 74
Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA Act), 127, 148–149, 155–156, 162–164
Mahatma Gandhi National Rural Employment Guarantee Act (2005) (MGNREGA), 157
Mandatory System of Priority Lending (1972), 25
Manjadikuru (lucky red seeds), 33–34
Market
capitalism, 19–20
market-based approach, 53
nature of markets and role of financial intermediaries, 54
stabilisation system, 57
Marketing systems, 19
Material possession, 16
Materiality, 180
Maternity benefit act (2017), 150
Media, 42
Medium and Small Enterprises (MSME), 140
Medium Small Enterprise (MSE), 140
Meghalaya, flower industry and village community of, 23–24
Meghraj (service), 100–101
Mesopotamians, 94
Micro level factors, 74
Micro-Automated Teller Machines (Micro-ATMs), 147
Microfinance, 27, 39, 41, 86
microfinance-based model, 39
programme, 164–165
Microfinance in India, 88
social capital in context of, 36–38
Microfinance institutions (MFI), 34, 88, 138
lending by, 138
Mid-Day Meal (MDM), 163–164
Scheme, 161–162
Ministry of Finance, The, 57
Mission Drift, 12–13
Mobile Banking, 74
Mobile Wallets, 74
Modernisation of Ghazipur Mandi, 13–14
Modified National Agricultural Insurance Scheme (MNAIS), 126–127
Money, 94–95
markets, 55
repo rate, 55
Multiple Performance Evaluation systems, 181–182
Mutual Funds, 59
Mutually Aided Cooperative Society (MAC Society), 42–43
Mysore Resettlement and Development Agency (MYRADA), 25, 86
NABARD, 5, 7, 24, 26–27, 44, 60, 86, 130
panchsutras, 25
Nachiket Mor Committee, The, 70–71, 107–108
Narasimhan Committee, The, 51, 53, 57
National Agricultural Markets, 127–128
National Automated Clearing Systems (NACH), 93–94
National Centre for Financial Education, 60
National e-Governance Plan (NeGP), 62–63, 103, 105, 107–108
National Electronic Toll Collection System (NETC), 108–111
National Financial Switch (NFS), 93–94
National Food Security Act (NFSA), 156–157
National Health Mission (NHM), 156
National Human Right Institutions, 144
National Identification Number, 101–102
National Informatics Centric (NICS), 106
National Institute of Mental Health and Neuro Sciences (NIMHANS), 157
National Livelihood Mission, 155–156
National Payment Corporation of India (NPCI), 70–71, 101–102
National Planning Committee, 2–3
National policy, objectives of, 181–182
agency problem and social projects, 181–182
National Rural Employment Guarantee Scheme, 162–163
National Rural Health Mission (NRHM), 163–164
National Rural Livelihood Mission (NRLM), 43, 139, 184, 187
National Sample Survey Organization (NSSO), 129
National Social Assistance Programme, 155–156
National Stock Exchange (NSE), 57
Nationalisation of banks, 25
Negative externalities, 166–168
Negotiation process, 7–8
Neo-banking, 73–74
Neo-liberal market theory, 120
Networks, 30–31
social capital and information flow through, 35–36
New India Strategy (2022), 155–156
NICNET (satellite-based computer network), 106
NITI Aayog, 108
No Objection Certificate (NOC), 131
Noble Committee, The, 1
Non-banking Financial Companies, 59
Non-government organisation (NGO), 25, 31–33, 44
NGO PRADAN, 25
Non-Performing Assets (NPAs), 51, 53, 140
Office of the High Commissioner for Human Rights, The, 144
Online applications, 96–97
Oolay (earrings of Paniya tribe), 33–34
Opportunity Cost Principle, 182
Organisational agility, 76–81
Organisations, example of social capital in, 34
Organised farmers, 131
Organizational agility, 76–81
Paadi (house of Paniya Tribe), 33
Panchayati Raj Institution, 184–187
Paniya Tribe, example of social capital in, 33–34
Paradox of moral hazard in group lending scenario, 26–27
Pareto optimalityof poverty, 163–164
‘Paris Agreement’, 152
Paris Convention, The, 152
Payment Banks, 108
in India, 112–113
Peer pressure, 25
Performance incentives, lack of, 173
Personal Identification Number (PIN), 102
Phishing, 140–141
Piloting and Mainstreaming of SHG Movement in (1992–1996), 25
Pire (house of Paniya), 33
Planning process, 176
Point of Sales (PoS), 75
Policy
ecosystem, 108
financial inclusion policy factors, 63–64
framework for digital inclusion, 70–71
Positive externalities, 165
Post-Washington consensus’, 19–20
Poverty, 2–3, 5, 7, 24, 158, 173–174
bedrock of, 5–7
case study on poverty reduction in Akodara Village, Gujarat, 146–147
digitisation and modernisation of Ghazipur Mandi, 13–14
dimensions of, 15
factors of constitutive relevance, 7–10
factors of instrumental importance, 10–14
impact of financial inclusion, 10–12
government action for, 155–156
handicraft industry in Nepal, 2
importance of capacity building, 19
paradigms of, 2
Pareto optimality and social evil of, 163–164
poverty reduction and women empowerment, 5–7
reduction, 144–147
under SBLP, 25–27
strategies for poverty reduction, 18–19
SDG and, 14–15
trade-off between profitability and social objectives, 12–13
Pradhan Mantri Awas Yojana, 155–156
Pradhan Mantri Fasal Bima Yojana, 128
Pradhan Mantri Gram Sadak Yojana, 155–156
Pradhan Mantri Gramin Digital Saksharta Abhiyaan (PMDISHA), 63–64
Pradhan Mantri Jan Dhan Yojana (PMJDY), 61–62, 71, 74–76, 86, 90, 102, 106–108, 119–120, 139, 156
social perspective, 119–120
Pradhan Mantri Jeevan Beema Yojana (PMJBY), 147–148
Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), 156–157
Pradhan Mantri Ujjwala Yojana (PMUY), 157
Pre-paid instruments (PPI), 108–111
Price Support Scheme, 127–128
Primary Agriculture Cooperatives (PACs), 129, 131
Prime Minister’s Employment Generation Programme (PMEGP), 157
Producer Companies, 131
Public Distribution System (PDS), 148–149, 162–163
Public Private Partnership (PPP), 151–152
Racism, 7–8
Rangarajan Committee, 2–3
Ransomware, 140
Rape, 5–7
Rashtriya Krishak Vikas Yojana, 127
Rashtriya Swasthya Bima Yojana (RSBY), 148–149
Real Time Gross Settlements (RTGS), 75
Regional Rural Banks (RRBs), 129, 139
Relational poverty, 8–10
Relational social capital, 30–32
Religious activities, 164
Reserve Bank of India (RBI), 10–11, 57, 60, 70–71, 108, 114, 131, 139
Resource-based view (RBV), 38, 86, 88
Resources, 39
Responsibility, 144–146
Return on investment (ROI), 12–13, 88, 175
Rig Veda, 8–9
Right to education, 149–150
Right to Health and Social Security, 147–149
Rio Declaration (1992), 154–155
Risk management technology, 106–107
RuPAY, 108
Rural agricultural finance, particular focus on, 124–125
Saltwater barrier, 154
Sarv Shiksha Abhiyaan (SSA), 163–164
Savings groups for poverty alleviation in Rajasthan, 25
SBLP, poverty and social contract under, 25–27
Scale of Finance (SOF), 129–130
Securities and Contracts Regulations Act (1956), 57–58
Securities and Exchange Board of India (SEBI), 57–58, 122, 136
SEBI Act (1992), 57–58
Self Finance Group, 184–187
Self-determination, indigenous people’s right to, 152–153
Self-Help Group (SHG), 25–27, 36–37, 43–44, 125, 166, 168
borrowings from, 132–133
case study of SHG in India, 35–36
externalities of, 166–168
linkage, 132–133
linkage programme, 25
Rehman and self-help promoting institute helping to form, 143–144
SHG bank linkage programme, 84–88
social perspective, 143–144
technology acceptance model, 86–88
Self-Help Group Bank Linkage Program (SBLP), 24, 44–45, 132–133
Self-Help Promoting Institution (SHPI), 31–32, 143–144
Rehman and SHPI helping to form self-help groups, 143–144
Semi-formal group lending, 123
Sericulture, 127
Shock therapy-based neoliberalism, 19–20
Shyama Prasad Mukherjee Rural Urban Mission (SPMRM), 155–156
Sikhism, 9
Simple, Moral, Accountable, Responsive, and Transparent (SMART), 105
Skill Development Programme, 155–156
Social activities, 162–163
Social benefit analysis, 182–184
principle to determine benefit of social project, 182–184
Social capital, 40–41, 88–89, 115–116
case study of Banswara Village, 27
case study of Dhokra Community in India, 32–33
case study of self-help group in India, 35–36
community, 39–41
community organisations, 41
in context of microfinance in India, 36–38
dimensions of social capital, 32–33
example of social capital in organisations, 34
example of social capital in Paniya Tribe, 33–34
flower industry and village community of Meghalaya, 23–24
and information flow through networks, 35–36
MAC Society, 42–43
metaphor of capital, 30–31
paradox of moral hazard in group lending scenario, 26–27
poverty and social contract under SBLP, 25–27
principles of Community Organisations, 41–44
role of social capital as collateral, 27–30
self-help group, 43–44
self-help group linkage programme, 25
social capital and exchange, 33–34
social organisation and role in promoting social capital, 38–39
social perspective, 23–24
structuralist approach to social capital, 31–32
systems view of, 28–30
Social Cohesion, 16, 25–26
Social contract, 25–26, 37–38
under SBLP, 25–27
Social costs, 165
measures tomitigate, 178–179
Social development process, 133–134
Social discrimination, 158
Social environment, 71–73
Social evil of poverty, 163–164
Social exclusion, 5, 7–8
Social factors role in adoption of technology, 73
‘Social injustice’, 2–3
Social innovation, 84–88
Social intermediation, 64–65
Social mobility, 16
Social networks, 71–73
Social organisations, 88–89
and role in promoting social capital, 38–39
Social planning, 176–179
challenges to social policy, 176–177
measures to mitigate social costs, 178–179
role of social policy in social, 178
Social policy, 176
challenges to, 176–177
for developmental projects, 170–171
role in social, 178
Social projects, 180–182
digitization of social project evaluation, 184–187
principle to determine benefit of, 182–184
Social protection schemes, 147–149
Social scheme, 144, 146, 161–162
Social security
case study of initiatives in domain of, 148–149
Government action for, 156–157
Social structure, 162–163
Social systems, 174–175
Social values, principle of, 179–180
Social welfare, 163–164, 176, 179, 182–183
activities, 162–163
approaches to, 169–171
basic principles of, 164
challenges to, 171–175
challenges to social policy, 176–177
changes, 162–163
of citizens, 162–163
forest rights case study Koska Village, 169–170
measures to mitigate social costs, 178–179
programmes, 164–165
role of social policy in social, 178
schemes, 5, 7, 162–163
social policy for developmental projects, 170–171
Soil harvesting, 127
Spoofing, 141
SRLM, 184–187
Stakeholders, 179–180
in financial system, 51–59
inclusive money markets in India, 57–58
major financial intermediaries in Indian financial system, 58–59
nature of markets and role of financial intermediaries, 54
role of financial intermediary in economy, 53–54
supply-side factors, 54–55
value creation and role of financial intermediaries, 54
State Cooperative Banks (SCBs), 129
State Service Delivery Gateway (SSDG), 64
State Wide Area Network (SWAN), 64
Stockholm Declaration (1972), 154–155
Structural factors, financial inclusion, 63–64
Structural social capital, 30–33
Structural sources, 30–31
Structuralist approach to social capital, 31–32
Subsidies, 11–12, 144, 146
subsidy linked schemes, 129
subsidy-linked insurance schemes, 131–132
Sukanya Smridhi scheme, 5–7
Supply-factors, 54–55
Supply-side barriers, 137–141
Supply-side factors, 54–55
Sustainable Development Goal (SDG), 2–3, 14–15, 149–150, 152
case study of Kuttanad, Kerala, 153–154
case study of women community group, 151
climate change, 152–154
human rights approach to, 154–157
indigenous people’s right to self-determination, 152–153
poverty reduction, 144–147
right to health and social security, 147–149
women empowerment and gender equality, 149–151
‘Swachh Bharat Mission’, 147–148
Swarn Jayanti Gram Swarozgar Yojana (SGSY), 148–149, 163–164
Synthetic products, 54
Technological identity, 73
Technology, 76, 81, 96
difference between technology users and non-users, 73–74
reforming E-government through, 102–108
social factors role in adoption of, 73
use of technology by financial institutions, 106–107
Transaction cost, 166
Transparency, 180
Treasury Bills, 55, 57
UN Framework Convention on Climate Change (UNFCCC), 155
Unified Payment Interface (UPI), 70–71, 111–112
Unique Identification Number (UID), 62–63, 107–108
Unique Payment Identification (UPI), 96–97, 108
United Nations (UN), 14, 144
UN Development Group, 144
UN SDGs, 15, 144, 146
UN sustainable development goals and role of Indian Government, 61–62
United Nations Economics and Social Council (1988), 3–4
Universal Declaration of Human Rights, 147–148
Unstructured Supplementary Service Data (USSD), 96–97
Valuable, inimitable and rare organisational resources (VRIO resources), 38, 88–89
Value creation, 54–55
and role of financial intermediaries, 54
Vedas, 8–9
Vienna Convention, 152
Village community of Meghalaya, 23–24
Water harvesting, 127
Welfare system, inequalities within, 174–175
Welfarist state policy, 144–146
Women community group, case study of, 151
Women empowerment, 124, 184, 187
and gender equality, 149–151
government action for, 157
poverty reduction and, 5–7
World Bank, The, 2–4, 25, 95–96
World Trade Organization (WTO), 95–96
Zero Hunger, 14
E Kranti movement of India, 64
E-commerce, 114
E-Know your customer (e-KYC), 71
E-Marketing (e-NAM), 125–128
E-SHAKTI programme, 184–187
Economic efficiency, 166
Economic welfare of citizens, 162–163
Economy, role of financial intermediary in, 53–54
Electronic economy, 114–115
Electronic governance (e-Governance), 98–99, 103
benefits of e-governance, 104
computerisation, 103
e-governance initiatives in India, 106
financial inclusion in India, 106–108
four pillars of e-governance, 104
goals and objectives of, 105
in India, 98–99
interconnectivity, 103
interface, 103
national e-governance plan, 103
networking, 103
pillars of digital India, 99
reforming e-government through technology, 102–108
stages in, 103
types of interactions in e-Governance, 104
use of technology by financial institutions, 106–107
Electronic payment system, 75, 106–107
Emotional capital, 116
Employee State Insurance Scheme, 156
Empowerment, 184–187
empowerment zone strategy, 28
strategy, 28–30
EMV-based Aadhar identification card, 114
Endogenous growth theory, 11–12
‘Equity Grant and Credit Guarantee Scheme’, 131–132
Establishment of Rural Banks (1982), 25
Externalities, 164–168
externalities of self-help groups, 166–168
issue with business decision, 165–166
measures to mitigate negative externalities, 168
positive externalities, 165
social costs, 165
Extreme poverty, 2–3
Farmer Producer Companies (FPOs), 131–132
Farmer Producer Organizations (FPOs), 131
Finance
formal vs. informal sources of, 131
informal sources of, 132–133
services, 184–187
Finance Ministry in India, 74
Financial autonomy, 36–37
Financial capital markets, 121–122
Financial contracting, 53
Financial economy, 48–49
Financial exclusion, 59–60, 173–174
Financial inclusion, 12–13, 47, 60, 62–63, 70, 74, 114, 150–151
impact of, 10–12
benefits of, 116–117
factors that impact, 63–64
in India, 106–108
plan, 74
process, 70
system, 62–64
Financial institutions, 51, 53, 60, 134
use of technology by, 106–107
Financial intermediaries, 49–51, 53, 120–121
in Indian financial system, 58–59
nature of markets and role of, 54
role in economy, 53–54
value creation and role of, 54
Financial intermediation, 51, 53, 64–65
Financial literacy, 60–62, 134–135
campaigns, 125
Financial Markets, 55, 59
Financial regulatory authority, 57
Financial system, 48–49
approach, 12–13
in India, 51, 53, 120–123
issues and challenges to financial system in India, 88
stakeholders in, 51–59
Fintech Companies, 113–114
Flame of Forest Blooms, 27
Flower industry of Meghalaya, 23–24
Forest rights case study Koska Village, 169–170
social perspective, 169–170
Formal bank systems, 132
Formal sources of finance. See also Informal sources of finance, 131
Free economy, 50
Freedom, 16
G20 Summit (2010), 70
Gender Equality, women empowerment and, 149–151
Gender inequality, 5–7
Ghazipur Mandi, digitisation and modernisation of, 13–14
Governance
honest form of, 16
and services on demand, 99
Government, The, 15
payments, 95
schemes, 11–12
transfers, 5, 7, 11–12
Government action
for health and social security, 156–157
for poverty reduction, 155–156
for women’s empowerment, 157
Government of India, The, 57, 61–64, 71, 73–74, 86, 100–101, 106–107, 127, 139, 156–157
scheme, 126–127
Government role to ensure economic &social welfare
approaches to social welfare, 169–171
challenges to social welfare scheme, 171–175
digitization of social project evaluation, 184–187
externalities, 164–168
Mid-Day Meal Scheme, 161–162
Pareto optimality and social evil of poverty, 163–164
principle of social values, 179–180
social benefit analysis, 182–184
social planning and social welfare, 176–179
valuation of development projects, 180–182
Government to business (G2B), 104
Government to citizens (G2C), 104
Government to government (G2G), 104
Grameen Bank, The, 12–13
Gross Domestic Product (GDP), 50, 155
Group lending, 49–50, 120
paradox of moral hazard in group lending scenario, 26–27
Handicraft industry in Nepal, 2
social perspective, 2
Health
case study of initiatives in domain of health security, 148–149
government action for, 156–157
Hindu texts, 8–9
Hinduism, 9
Horizontal coordination, 34
Horizontal social capital, 34
Horticulture, 127
Human Development Report, 3–4
Human Rights, 144, 147, 149, 151–152, 154
approach to SDG, 154–157
case study of initiatives in domain of health and social security, 148–149
case study of Kuttanad, Kerala, 153–154
case study of women community group, 151
challenges to ensuring human rights for all citizens, 157–158
government action for health and social security, 156–157
government action for poverty reduction, 155–156
government action for women’s empowerment, 157
indigenous people’s right to self-determination, 152–153
initiatives for climate change, 155
Immediate Payment Services (IMPS), 108, 111
Incentive Focussed Strategy, 182
Inclusive financial system, 59–60, 121–122
ATMA, 127–128
Bank Accounts and Kisan Credit Cards, 130
challenges to, 133–141
challenges to inclusive financial systems, 133–141
comparison with Indian scenario, 125–126
demand side barriers, 133–137
digital and financial inclusive system, 62–64
digitisation of bombay stock exchange, 48
factors that impact financial inclusion, 63–64
farmer producer companies and organised farmers, 131
financial intermediation and social intermediation, 64–65
financial literacy and financial inclusion, 60–62
financial systems in India, 120–123
formal vs. informal sources of finance, 131
inclusive financial system, 59–60
Indian agriculture, 128–129
Indian financial systems, 49–51
informal sources of finance, 132–133
institutional credit, 129
issues in Indian Agricultural Credit System, 129–130
Kisan Credit Card Ownership and land holdings, 130
literacy and impact on Kisan credit card ownership, 130
MNAIS, 126–127
organised farmers, 131
outreach and usage, 61–62
particular focus on rural agricultural finance, 124–125
PMJDY, 119–120
Pradhan Mantri Fasal Bima Yojana, 128
price support scheme and e-NAM, 127–128
priorities in, 120
Rashtriya Krishak Vikas Yojana, 127
rural and urban divide in KCC, 130
small farmer coverage, 131–132
stakeholders in financial system, 51–59
subsidy linked schemes, 129
supply-side barriers, 137–141
UN sustainable development goals and role of Indian Government, 61–62
Inclusive money markets in India, 57–58
India, 8, 97–98, 119–120
case study of Dhokra community in, 32–33
case study of self-help group in, 35–36
e-Governance in, 98–99
e-governance initiatives in, 106
financial inclusion in, 106–108
financial systems in, 120–123
inclusive money markets in, 57–58
issues and challenges to financial system in, 88
payment banks in, 112–113
progress of digital financial inclusion in, 74–75
social capital in context of microfinance in, 36–38
stack, 114
transforming India’s Digital Payment Landscape, 108–112
Indian Agricultural Credit System, 132
issues in, 129–130
Indian agriculture, 128–130
Indian agriculturists, 129–130
Indian constitution, 8
Indian context, 36–37
Indian economic system, 120
Indian economy, 125–126, 128–129, 152, 162–163
Indian financial systemsystems, 49, 51, 53
financial intermediaries in Indian financial system major, 58–59
Indian forests, 169
Indian Government, The, 3–5, 7, 70–71, 74, 126, 155
UN sustainable development goals and role of, 61–62
Indian stack, 101–102
Indigenous people’s right to self-determination, 152–153
Indira Awas Yojana (IAY), 149
Indira Gandhi Old Age Pension Scheme (IGNOPAS), 149
Indus valley civilisation, 8–9
Inequalities, 8, 10, 158
Informal Borrowing and Lending programme, 25
Informal sources of finance. See also Formal sources of finance, 131–133
borrowings from self-help groups, 132–133
money lenders, 132
Information Communication Technology (ICT), 25–26, 60, 62–63, 70–71, 73, 96, 116, 184, 187
platforms, 74
Information Technology (IT), 73, 100–101
project, 81
Information technology-enabled services (ITES), 100–101
Initial Public Offering (IPO), 48, 58
Institutional capacity, 19
Institutional credit, 129
Instrumental relevance, 13
Insurance, 44
companies, 59
Integrated Child Development Scheme, 162–163
Integrated farming, 127
Interactions in e-Governance, types of, 104
Internal Working Committee, 57
International Labour Organisation (ILO), 2–3, 147–148
International Monetary Funds (IMF), 95–96
International Year of Financial Inclusion, 10–11
Internationalisation, 53
Investment contracts, 53
Ippimala (hilltop), 33–34
Islam, 9
‘Jal Jeevan Mission’, 147–148
Joint Forest Management Act, 169
Joint Forest Management Committee, 170
Kisan Credit Card (KCC), 130, 139
literacy and impact on, 130
ownership, 130
scheme, 124–126, 129–130
Know Your Customer (KYC), 108
Kudumbu (house of Paniya), 33
Land holdings, 130
Lenders, 122–123
Liberalisation, 53
LIFE (movement), 155
Liquidity Adjustment Facility (LAF), 55, 57
Loan commitment, 49–50
Local communities, 33–34
Machine learning, 102–103
Macro-level factors, 74
Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA Act), 127, 148–149, 155–156, 162–164
Mahatma Gandhi National Rural Employment Guarantee Act (2005) (MGNREGA), 157
Mandatory System of Priority Lending (1972), 25
Manjadikuru (lucky red seeds), 33–34
Market
capitalism, 19–20
market-based approach, 53
nature of markets and role of financial intermediaries, 54
stabilisation system, 57
Marketing systems, 19
Material possession, 16
Materiality, 180
Maternity benefit act (2017), 150
Media, 42
Medium and Small Enterprises (MSME), 140
Medium Small Enterprise (MSE), 140
Meghalaya, flower industry and village community of, 23–24
Meghraj (service), 100–101
Mesopotamians, 94
Micro level factors, 74
Micro-Automated Teller Machines (Micro-ATMs), 147
Microfinance, 27, 39, 41, 86
microfinance-based model, 39
programme, 164–165
Microfinance in India, 88
social capital in context of, 36–38
Microfinance institutions (MFI), 34, 88, 138
lending by, 138
Mid-Day Meal (MDM), 163–164
Scheme, 161–162
Ministry of Finance, The, 57
Mission Drift, 12–13
Mobile Banking, 74
Mobile Wallets, 74
Modernisation of Ghazipur Mandi, 13–14
Modified National Agricultural Insurance Scheme (MNAIS), 126–127
Money, 94–95
markets, 55
repo rate, 55
Multiple Performance Evaluation systems, 181–182
Mutual Funds, 59
Mutually Aided Cooperative Society (MAC Society), 42–43
Mysore Resettlement and Development Agency (MYRADA), 25, 86
NABARD, 5, 7, 24, 26–27, 44, 60, 86, 130
panchsutras, 25
Nachiket Mor Committee, The, 70–71, 107–108
Narasimhan Committee, The, 51, 53, 57
National Agricultural Markets, 127–128
National Automated Clearing Systems (NACH), 93–94
National Centre for Financial Education, 60
National e-Governance Plan (NeGP), 62–63, 103, 105, 107–108
National Electronic Toll Collection System (NETC), 108–111
National Financial Switch (NFS), 93–94
National Food Security Act (NFSA), 156–157
National Health Mission (NHM), 156
National Human Right Institutions, 144
National Identification Number, 101–102
National Informatics Centric (NICS), 106
National Institute of Mental Health and Neuro Sciences (NIMHANS), 157
National Livelihood Mission, 155–156
National Payment Corporation of India (NPCI), 70–71, 101–102
National Planning Committee, 2–3
National policy, objectives of, 181–182
agency problem and social projects, 181–182
National Rural Employment Guarantee Scheme, 162–163
National Rural Health Mission (NRHM), 163–164
National Rural Livelihood Mission (NRLM), 43, 139, 184, 187
National Sample Survey Organization (NSSO), 129
National Social Assistance Programme, 155–156
National Stock Exchange (NSE), 57
Nationalisation of banks, 25
Negative externalities, 166–168
Negotiation process, 7–8
Neo-banking, 73–74
Neo-liberal market theory, 120
Networks, 30–31
social capital and information flow through, 35–36
New India Strategy (2022), 155–156
NICNET (satellite-based computer network), 106
NITI Aayog, 108
No Objection Certificate (NOC), 131
Noble Committee, The, 1
Non-banking Financial Companies, 59
Non-government organisation (NGO), 25, 31–33, 44
NGO PRADAN, 25
Non-Performing Assets (NPAs), 51, 53, 140
Office of the High Commissioner for Human Rights, The, 144
Online applications, 96–97
Oolay (earrings of Paniya tribe), 33–34
Opportunity Cost Principle, 182
Organisational agility, 76–81
Organisations, example of social capital in, 34
Organised farmers, 131
Organizational agility, 76–81
Paadi (house of Paniya Tribe), 33
Panchayati Raj Institution, 184–187
Paniya Tribe, example of social capital in, 33–34
Paradox of moral hazard in group lending scenario, 26–27
Pareto optimalityof poverty, 163–164
‘Paris Agreement’, 152
Paris Convention, The, 152
Payment Banks, 108
in India, 112–113
Peer pressure, 25
Performance incentives, lack of, 173
Personal Identification Number (PIN), 102
Phishing, 140–141
Piloting and Mainstreaming of SHG Movement in (1992–1996), 25
Pire (house of Paniya), 33
Planning process, 176
Point of Sales (PoS), 75
Policy
ecosystem, 108
financial inclusion policy factors, 63–64
framework for digital inclusion, 70–71
Positive externalities, 165
Post-Washington consensus’, 19–20
Poverty, 2–3, 5, 7, 24, 158, 173–174
bedrock of, 5–7
case study on poverty reduction in Akodara Village, Gujarat, 146–147
digitisation and modernisation of Ghazipur Mandi, 13–14
dimensions of, 15
factors of constitutive relevance, 7–10
factors of instrumental importance, 10–14
impact of financial inclusion, 10–12
government action for, 155–156
handicraft industry in Nepal, 2
importance of capacity building, 19
paradigms of, 2
Pareto optimality and social evil of, 163–164
poverty reduction and women empowerment, 5–7
reduction, 144–147
under SBLP, 25–27
strategies for poverty reduction, 18–19
SDG and, 14–15
trade-off between profitability and social objectives, 12–13
Pradhan Mantri Awas Yojana, 155–156
Pradhan Mantri Fasal Bima Yojana, 128
Pradhan Mantri Gram Sadak Yojana, 155–156
Pradhan Mantri Gramin Digital Saksharta Abhiyaan (PMDISHA), 63–64
Pradhan Mantri Jan Dhan Yojana (PMJDY), 61–62, 71, 74–76, 86, 90, 102, 106–108, 119–120, 139, 156
social perspective, 119–120
Pradhan Mantri Jeevan Beema Yojana (PMJBY), 147–148
Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), 156–157
Pradhan Mantri Ujjwala Yojana (PMUY), 157
Pre-paid instruments (PPI), 108–111
Price Support Scheme, 127–128
Primary Agriculture Cooperatives (PACs), 129, 131
Prime Minister’s Employment Generation Programme (PMEGP), 157
Producer Companies, 131
Public Distribution System (PDS), 148–149, 162–163
Public Private Partnership (PPP), 151–152
Racism, 7–8
Rangarajan Committee, 2–3
Ransomware, 140
Rape, 5–7
Rashtriya Krishak Vikas Yojana, 127
Rashtriya Swasthya Bima Yojana (RSBY), 148–149
Real Time Gross Settlements (RTGS), 75
Regional Rural Banks (RRBs), 129, 139
Relational poverty, 8–10
Relational social capital, 30–32
Religious activities, 164
Reserve Bank of India (RBI), 10–11, 57, 60, 70–71, 108, 114, 131, 139
Resource-based view (RBV), 38, 86, 88
Resources, 39
Responsibility, 144–146
Return on investment (ROI), 12–13, 88, 175
Rig Veda, 8–9
Right to education, 149–150
Right to Health and Social Security, 147–149
Rio Declaration (1992), 154–155
Risk management technology, 106–107
RuPAY, 108
Rural agricultural finance, particular focus on, 124–125
Saltwater barrier, 154
Sarv Shiksha Abhiyaan (SSA), 163–164
Savings groups for poverty alleviation in Rajasthan, 25
SBLP, poverty and social contract under, 25–27
Scale of Finance (SOF), 129–130
Securities and Contracts Regulations Act (1956), 57–58
Securities and Exchange Board of India (SEBI), 57–58, 122, 136
SEBI Act (1992), 57–58
Self Finance Group, 184–187
Self-determination, indigenous people’s right to, 152–153
Self-Help Group (SHG), 25–27, 36–37, 43–44, 125, 166, 168
borrowings from, 132–133
case study of SHG in India, 35–36
externalities of, 166–168
linkage, 132–133
linkage programme, 25
Rehman and self-help promoting institute helping to form, 143–144
SHG bank linkage programme, 84–88
social perspective, 143–144
technology acceptance model, 86–88
Self-Help Group Bank Linkage Program (SBLP), 24, 44–45, 132–133
Self-Help Promoting Institution (SHPI), 31–32, 143–144
Rehman and SHPI helping to form self-help groups, 143–144
Semi-formal group lending, 123
Sericulture, 127
Shock therapy-based neoliberalism, 19–20
Shyama Prasad Mukherjee Rural Urban Mission (SPMRM), 155–156
Sikhism, 9
Simple, Moral, Accountable, Responsive, and Transparent (SMART), 105
Skill Development Programme, 155–156
Social activities, 162–163
Social benefit analysis, 182–184
principle to determine benefit of social project, 182–184
Social capital, 40–41, 88–89, 115–116
case study of Banswara Village, 27
case study of Dhokra Community in India, 32–33
case study of self-help group in India, 35–36
community, 39–41
community organisations, 41
in context of microfinance in India, 36–38
dimensions of social capital, 32–33
example of social capital in organisations, 34
example of social capital in Paniya Tribe, 33–34
flower industry and village community of Meghalaya, 23–24
and information flow through networks, 35–36
MAC Society, 42–43
metaphor of capital, 30–31
paradox of moral hazard in group lending scenario, 26–27
poverty and social contract under SBLP, 25–27
principles of Community Organisations, 41–44
role of social capital as collateral, 27–30
self-help group, 43–44
self-help group linkage programme, 25
social capital and exchange, 33–34
social organisation and role in promoting social capital, 38–39
social perspective, 23–24
structuralist approach to social capital, 31–32
systems view of, 28–30
Social Cohesion, 16, 25–26
Social contract, 25–26, 37–38
under SBLP, 25–27
Social costs, 165
measures tomitigate, 178–179
Social development process, 133–134
Social discrimination, 158
Social environment, 71–73
Social evil of poverty, 163–164
Social exclusion, 5, 7–8
Social factors role in adoption of technology, 73
‘Social injustice’, 2–3
Social innovation, 84–88
Social intermediation, 64–65
Social mobility, 16
Social networks, 71–73
Social organisations, 88–89
and role in promoting social capital, 38–39
Social planning, 176–179
challenges to social policy, 176–177
measures to mitigate social costs, 178–179
role of social policy in social, 178
Social policy, 176
challenges to, 176–177
for developmental projects, 170–171
role in social, 178
Social projects, 180–182
digitization of social project evaluation, 184–187
principle to determine benefit of, 182–184
Social protection schemes, 147–149
Social scheme, 144, 146, 161–162
Social security
case study of initiatives in domain of, 148–149
Government action for, 156–157
Social structure, 162–163
Social systems, 174–175
Social values, principle of, 179–180
Social welfare, 163–164, 176, 179, 182–183
activities, 162–163
approaches to, 169–171
basic principles of, 164
challenges to, 171–175
challenges to social policy, 176–177
changes, 162–163
of citizens, 162–163
forest rights case study Koska Village, 169–170
measures to mitigate social costs, 178–179
programmes, 164–165
role of social policy in social, 178
schemes, 5, 7, 162–163
social policy for developmental projects, 170–171
Soil harvesting, 127
Spoofing, 141
SRLM, 184–187
Stakeholders, 179–180
in financial system, 51–59
inclusive money markets in India, 57–58
major financial intermediaries in Indian financial system, 58–59
nature of markets and role of financial intermediaries, 54
role of financial intermediary in economy, 53–54
supply-side factors, 54–55
value creation and role of financial intermediaries, 54
State Cooperative Banks (SCBs), 129
State Service Delivery Gateway (SSDG), 64
State Wide Area Network (SWAN), 64
Stockholm Declaration (1972), 154–155
Structural factors, financial inclusion, 63–64
Structural social capital, 30–33
Structural sources, 30–31
Structuralist approach to social capital, 31–32
Subsidies, 11–12, 144, 146
subsidy linked schemes, 129
subsidy-linked insurance schemes, 131–132
Sukanya Smridhi scheme, 5–7
Supply-factors, 54–55
Supply-side barriers, 137–141
Supply-side factors, 54–55
Sustainable Development Goal (SDG), 2–3, 14–15, 149–150, 152
case study of Kuttanad, Kerala, 153–154
case study of women community group, 151
climate change, 152–154
human rights approach to, 154–157
indigenous people’s right to self-determination, 152–153
poverty reduction, 144–147
right to health and social security, 147–149
women empowerment and gender equality, 149–151
‘Swachh Bharat Mission’, 147–148
Swarn Jayanti Gram Swarozgar Yojana (SGSY), 148–149, 163–164
Synthetic products, 54
Technological identity, 73
Technology, 76, 81, 96
difference between technology users and non-users, 73–74
reforming E-government through, 102–108
social factors role in adoption of, 73
use of technology by financial institutions, 106–107
Transaction cost, 166
Transparency, 180
Treasury Bills, 55, 57
UN Framework Convention on Climate Change (UNFCCC), 155
Unified Payment Interface (UPI), 70–71, 111–112
Unique Identification Number (UID), 62–63, 107–108
Unique Payment Identification (UPI), 96–97, 108
United Nations (UN), 14, 144
UN Development Group, 144
UN SDGs, 15, 144, 146
UN sustainable development goals and role of Indian Government, 61–62
United Nations Economics and Social Council (1988), 3–4
Universal Declaration of Human Rights, 147–148
Unstructured Supplementary Service Data (USSD), 96–97
Valuable, inimitable and rare organisational resources (VRIO resources), 38, 88–89
Value creation, 54–55
and role of financial intermediaries, 54
Vedas, 8–9
Vienna Convention, 152
Village community of Meghalaya, 23–24
Water harvesting, 127
Welfare system, inequalities within, 174–175
Welfarist state policy, 144–146
Women community group, case study of, 151
Women empowerment, 124, 184, 187
and gender equality, 149–151
government action for, 157
poverty reduction and, 5–7
World Bank, The, 2–4, 25, 95–96
World Trade Organization (WTO), 95–96
Zero Hunger, 14
G20 Summit (2010), 70
Gender Equality, women empowerment and, 149–151
Gender inequality, 5–7
Ghazipur Mandi, digitisation and modernisation of, 13–14
Governance
honest form of, 16
and services on demand, 99
Government, The, 15
payments, 95
schemes, 11–12
transfers, 5, 7, 11–12
Government action
for health and social security, 156–157
for poverty reduction, 155–156
for women’s empowerment, 157
Government of India, The, 57, 61–64, 71, 73–74, 86, 100–101, 106–107, 127, 139, 156–157
scheme, 126–127
Government role to ensure economic &social welfare
approaches to social welfare, 169–171
challenges to social welfare scheme, 171–175
digitization of social project evaluation, 184–187
externalities, 164–168
Mid-Day Meal Scheme, 161–162
Pareto optimality and social evil of poverty, 163–164
principle of social values, 179–180
social benefit analysis, 182–184
social planning and social welfare, 176–179
valuation of development projects, 180–182
Government to business (G2B), 104
Government to citizens (G2C), 104
Government to government (G2G), 104
Grameen Bank, The, 12–13
Gross Domestic Product (GDP), 50, 155
Group lending, 49–50, 120
paradox of moral hazard in group lending scenario, 26–27
Handicraft industry in Nepal, 2
social perspective, 2
Health
case study of initiatives in domain of health security, 148–149
government action for, 156–157
Hindu texts, 8–9
Hinduism, 9
Horizontal coordination, 34
Horizontal social capital, 34
Horticulture, 127
Human Development Report, 3–4
Human Rights, 144, 147, 149, 151–152, 154
approach to SDG, 154–157
case study of initiatives in domain of health and social security, 148–149
case study of Kuttanad, Kerala, 153–154
case study of women community group, 151
challenges to ensuring human rights for all citizens, 157–158
government action for health and social security, 156–157
government action for poverty reduction, 155–156
government action for women’s empowerment, 157
indigenous people’s right to self-determination, 152–153
initiatives for climate change, 155
Immediate Payment Services (IMPS), 108, 111
Incentive Focussed Strategy, 182
Inclusive financial system, 59–60, 121–122
ATMA, 127–128
Bank Accounts and Kisan Credit Cards, 130
challenges to, 133–141
challenges to inclusive financial systems, 133–141
comparison with Indian scenario, 125–126
demand side barriers, 133–137
digital and financial inclusive system, 62–64
digitisation of bombay stock exchange, 48
factors that impact financial inclusion, 63–64
farmer producer companies and organised farmers, 131
financial intermediation and social intermediation, 64–65
financial literacy and financial inclusion, 60–62
financial systems in India, 120–123
formal vs. informal sources of finance, 131
inclusive financial system, 59–60
Indian agriculture, 128–129
Indian financial systems, 49–51
informal sources of finance, 132–133
institutional credit, 129
issues in Indian Agricultural Credit System, 129–130
Kisan Credit Card Ownership and land holdings, 130
literacy and impact on Kisan credit card ownership, 130
MNAIS, 126–127
organised farmers, 131
outreach and usage, 61–62
particular focus on rural agricultural finance, 124–125
PMJDY, 119–120
Pradhan Mantri Fasal Bima Yojana, 128
price support scheme and e-NAM, 127–128
priorities in, 120
Rashtriya Krishak Vikas Yojana, 127
rural and urban divide in KCC, 130
small farmer coverage, 131–132
stakeholders in financial system, 51–59
subsidy linked schemes, 129
supply-side barriers, 137–141
UN sustainable development goals and role of Indian Government, 61–62
Inclusive money markets in India, 57–58
India, 8, 97–98, 119–120
case study of Dhokra community in, 32–33
case study of self-help group in, 35–36
e-Governance in, 98–99
e-governance initiatives in, 106
financial inclusion in, 106–108
financial systems in, 120–123
inclusive money markets in, 57–58
issues and challenges to financial system in, 88
payment banks in, 112–113
progress of digital financial inclusion in, 74–75
social capital in context of microfinance in, 36–38
stack, 114
transforming India’s Digital Payment Landscape, 108–112
Indian Agricultural Credit System, 132
issues in, 129–130
Indian agriculture, 128–130
Indian agriculturists, 129–130
Indian constitution, 8
Indian context, 36–37
Indian economic system, 120
Indian economy, 125–126, 128–129, 152, 162–163
Indian financial systemsystems, 49, 51, 53
financial intermediaries in Indian financial system major, 58–59
Indian forests, 169
Indian Government, The, 3–5, 7, 70–71, 74, 126, 155
UN sustainable development goals and role of, 61–62
Indian stack, 101–102
Indigenous people’s right to self-determination, 152–153
Indira Awas Yojana (IAY), 149
Indira Gandhi Old Age Pension Scheme (IGNOPAS), 149
Indus valley civilisation, 8–9
Inequalities, 8, 10, 158
Informal Borrowing and Lending programme, 25
Informal sources of finance. See also Formal sources of finance, 131–133
borrowings from self-help groups, 132–133
money lenders, 132
Information Communication Technology (ICT), 25–26, 60, 62–63, 70–71, 73, 96, 116, 184, 187
platforms, 74
Information Technology (IT), 73, 100–101
project, 81
Information technology-enabled services (ITES), 100–101
Initial Public Offering (IPO), 48, 58
Institutional capacity, 19
Institutional credit, 129
Instrumental relevance, 13
Insurance, 44
companies, 59
Integrated Child Development Scheme, 162–163
Integrated farming, 127
Interactions in e-Governance, types of, 104
Internal Working Committee, 57
International Labour Organisation (ILO), 2–3, 147–148
International Monetary Funds (IMF), 95–96
International Year of Financial Inclusion, 10–11
Internationalisation, 53
Investment contracts, 53
Ippimala (hilltop), 33–34
Islam, 9
‘Jal Jeevan Mission’, 147–148
Joint Forest Management Act, 169
Joint Forest Management Committee, 170
Kisan Credit Card (KCC), 130, 139
literacy and impact on, 130
ownership, 130
scheme, 124–126, 129–130
Know Your Customer (KYC), 108
Kudumbu (house of Paniya), 33
Land holdings, 130
Lenders, 122–123
Liberalisation, 53
LIFE (movement), 155
Liquidity Adjustment Facility (LAF), 55, 57
Loan commitment, 49–50
Local communities, 33–34
Machine learning, 102–103
Macro-level factors, 74
Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA Act), 127, 148–149, 155–156, 162–164
Mahatma Gandhi National Rural Employment Guarantee Act (2005) (MGNREGA), 157
Mandatory System of Priority Lending (1972), 25
Manjadikuru (lucky red seeds), 33–34
Market
capitalism, 19–20
market-based approach, 53
nature of markets and role of financial intermediaries, 54
stabilisation system, 57
Marketing systems, 19
Material possession, 16
Materiality, 180
Maternity benefit act (2017), 150
Media, 42
Medium and Small Enterprises (MSME), 140
Medium Small Enterprise (MSE), 140
Meghalaya, flower industry and village community of, 23–24
Meghraj (service), 100–101
Mesopotamians, 94
Micro level factors, 74
Micro-Automated Teller Machines (Micro-ATMs), 147
Microfinance, 27, 39, 41, 86
microfinance-based model, 39
programme, 164–165
Microfinance in India, 88
social capital in context of, 36–38
Microfinance institutions (MFI), 34, 88, 138
lending by, 138
Mid-Day Meal (MDM), 163–164
Scheme, 161–162
Ministry of Finance, The, 57
Mission Drift, 12–13
Mobile Banking, 74
Mobile Wallets, 74
Modernisation of Ghazipur Mandi, 13–14
Modified National Agricultural Insurance Scheme (MNAIS), 126–127
Money, 94–95
markets, 55
repo rate, 55
Multiple Performance Evaluation systems, 181–182
Mutual Funds, 59
Mutually Aided Cooperative Society (MAC Society), 42–43
Mysore Resettlement and Development Agency (MYRADA), 25, 86
NABARD, 5, 7, 24, 26–27, 44, 60, 86, 130
panchsutras, 25
Nachiket Mor Committee, The, 70–71, 107–108
Narasimhan Committee, The, 51, 53, 57
National Agricultural Markets, 127–128
National Automated Clearing Systems (NACH), 93–94
National Centre for Financial Education, 60
National e-Governance Plan (NeGP), 62–63, 103, 105, 107–108
National Electronic Toll Collection System (NETC), 108–111
National Financial Switch (NFS), 93–94
National Food Security Act (NFSA), 156–157
National Health Mission (NHM), 156
National Human Right Institutions, 144
National Identification Number, 101–102
National Informatics Centric (NICS), 106
National Institute of Mental Health and Neuro Sciences (NIMHANS), 157
National Livelihood Mission, 155–156
National Payment Corporation of India (NPCI), 70–71, 101–102
National Planning Committee, 2–3
National policy, objectives of, 181–182
agency problem and social projects, 181–182
National Rural Employment Guarantee Scheme, 162–163
National Rural Health Mission (NRHM), 163–164
National Rural Livelihood Mission (NRLM), 43, 139, 184, 187
National Sample Survey Organization (NSSO), 129
National Social Assistance Programme, 155–156
National Stock Exchange (NSE), 57
Nationalisation of banks, 25
Negative externalities, 166–168
Negotiation process, 7–8
Neo-banking, 73–74
Neo-liberal market theory, 120
Networks, 30–31
social capital and information flow through, 35–36
New India Strategy (2022), 155–156
NICNET (satellite-based computer network), 106
NITI Aayog, 108
No Objection Certificate (NOC), 131
Noble Committee, The, 1
Non-banking Financial Companies, 59
Non-government organisation (NGO), 25, 31–33, 44
NGO PRADAN, 25
Non-Performing Assets (NPAs), 51, 53, 140
Office of the High Commissioner for Human Rights, The, 144
Online applications, 96–97
Oolay (earrings of Paniya tribe), 33–34
Opportunity Cost Principle, 182
Organisational agility, 76–81
Organisations, example of social capital in, 34
Organised farmers, 131
Organizational agility, 76–81
Paadi (house of Paniya Tribe), 33
Panchayati Raj Institution, 184–187
Paniya Tribe, example of social capital in, 33–34
Paradox of moral hazard in group lending scenario, 26–27
Pareto optimalityof poverty, 163–164
‘Paris Agreement’, 152
Paris Convention, The, 152
Payment Banks, 108
in India, 112–113
Peer pressure, 25
Performance incentives, lack of, 173
Personal Identification Number (PIN), 102
Phishing, 140–141
Piloting and Mainstreaming of SHG Movement in (1992–1996), 25
Pire (house of Paniya), 33
Planning process, 176
Point of Sales (PoS), 75
Policy
ecosystem, 108
financial inclusion policy factors, 63–64
framework for digital inclusion, 70–71
Positive externalities, 165
Post-Washington consensus’, 19–20
Poverty, 2–3, 5, 7, 24, 158, 173–174
bedrock of, 5–7
case study on poverty reduction in Akodara Village, Gujarat, 146–147
digitisation and modernisation of Ghazipur Mandi, 13–14
dimensions of, 15
factors of constitutive relevance, 7–10
factors of instrumental importance, 10–14
impact of financial inclusion, 10–12
government action for, 155–156
handicraft industry in Nepal, 2
importance of capacity building, 19
paradigms of, 2
Pareto optimality and social evil of, 163–164
poverty reduction and women empowerment, 5–7
reduction, 144–147
under SBLP, 25–27
strategies for poverty reduction, 18–19
SDG and, 14–15
trade-off between profitability and social objectives, 12–13
Pradhan Mantri Awas Yojana, 155–156
Pradhan Mantri Fasal Bima Yojana, 128
Pradhan Mantri Gram Sadak Yojana, 155–156
Pradhan Mantri Gramin Digital Saksharta Abhiyaan (PMDISHA), 63–64
Pradhan Mantri Jan Dhan Yojana (PMJDY), 61–62, 71, 74–76, 86, 90, 102, 106–108, 119–120, 139, 156
social perspective, 119–120
Pradhan Mantri Jeevan Beema Yojana (PMJBY), 147–148
Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), 156–157
Pradhan Mantri Ujjwala Yojana (PMUY), 157
Pre-paid instruments (PPI), 108–111
Price Support Scheme, 127–128
Primary Agriculture Cooperatives (PACs), 129, 131
Prime Minister’s Employment Generation Programme (PMEGP), 157
Producer Companies, 131
Public Distribution System (PDS), 148–149, 162–163
Public Private Partnership (PPP), 151–152
Racism, 7–8
Rangarajan Committee, 2–3
Ransomware, 140
Rape, 5–7
Rashtriya Krishak Vikas Yojana, 127
Rashtriya Swasthya Bima Yojana (RSBY), 148–149
Real Time Gross Settlements (RTGS), 75
Regional Rural Banks (RRBs), 129, 139
Relational poverty, 8–10
Relational social capital, 30–32
Religious activities, 164
Reserve Bank of India (RBI), 10–11, 57, 60, 70–71, 108, 114, 131, 139
Resource-based view (RBV), 38, 86, 88
Resources, 39
Responsibility, 144–146
Return on investment (ROI), 12–13, 88, 175
Rig Veda, 8–9
Right to education, 149–150
Right to Health and Social Security, 147–149
Rio Declaration (1992), 154–155
Risk management technology, 106–107
RuPAY, 108
Rural agricultural finance, particular focus on, 124–125
Saltwater barrier, 154
Sarv Shiksha Abhiyaan (SSA), 163–164
Savings groups for poverty alleviation in Rajasthan, 25
SBLP, poverty and social contract under, 25–27
Scale of Finance (SOF), 129–130
Securities and Contracts Regulations Act (1956), 57–58
Securities and Exchange Board of India (SEBI), 57–58, 122, 136
SEBI Act (1992), 57–58
Self Finance Group, 184–187
Self-determination, indigenous people’s right to, 152–153
Self-Help Group (SHG), 25–27, 36–37, 43–44, 125, 166, 168
borrowings from, 132–133
case study of SHG in India, 35–36
externalities of, 166–168
linkage, 132–133
linkage programme, 25
Rehman and self-help promoting institute helping to form, 143–144
SHG bank linkage programme, 84–88
social perspective, 143–144
technology acceptance model, 86–88
Self-Help Group Bank Linkage Program (SBLP), 24, 44–45, 132–133
Self-Help Promoting Institution (SHPI), 31–32, 143–144
Rehman and SHPI helping to form self-help groups, 143–144
Semi-formal group lending, 123
Sericulture, 127
Shock therapy-based neoliberalism, 19–20
Shyama Prasad Mukherjee Rural Urban Mission (SPMRM), 155–156
Sikhism, 9
Simple, Moral, Accountable, Responsive, and Transparent (SMART), 105
Skill Development Programme, 155–156
Social activities, 162–163
Social benefit analysis, 182–184
principle to determine benefit of social project, 182–184
Social capital, 40–41, 88–89, 115–116
case study of Banswara Village, 27
case study of Dhokra Community in India, 32–33
case study of self-help group in India, 35–36
community, 39–41
community organisations, 41
in context of microfinance in India, 36–38
dimensions of social capital, 32–33
example of social capital in organisations, 34
example of social capital in Paniya Tribe, 33–34
flower industry and village community of Meghalaya, 23–24
and information flow through networks, 35–36
MAC Society, 42–43
metaphor of capital, 30–31
paradox of moral hazard in group lending scenario, 26–27
poverty and social contract under SBLP, 25–27
principles of Community Organisations, 41–44
role of social capital as collateral, 27–30
self-help group, 43–44
self-help group linkage programme, 25
social capital and exchange, 33–34
social organisation and role in promoting social capital, 38–39
social perspective, 23–24
structuralist approach to social capital, 31–32
systems view of, 28–30
Social Cohesion, 16, 25–26
Social contract, 25–26, 37–38
under SBLP, 25–27
Social costs, 165
measures tomitigate, 178–179
Social development process, 133–134
Social discrimination, 158
Social environment, 71–73
Social evil of poverty, 163–164
Social exclusion, 5, 7–8
Social factors role in adoption of technology, 73
‘Social injustice’, 2–3
Social innovation, 84–88
Social intermediation, 64–65
Social mobility, 16
Social networks, 71–73
Social organisations, 88–89
and role in promoting social capital, 38–39
Social planning, 176–179
challenges to social policy, 176–177
measures to mitigate social costs, 178–179
role of social policy in social, 178
Social policy, 176
challenges to, 176–177
for developmental projects, 170–171
role in social, 178
Social projects, 180–182
digitization of social project evaluation, 184–187
principle to determine benefit of, 182–184
Social protection schemes, 147–149
Social scheme, 144, 146, 161–162
Social security
case study of initiatives in domain of, 148–149
Government action for, 156–157
Social structure, 162–163
Social systems, 174–175
Social values, principle of, 179–180
Social welfare, 163–164, 176, 179, 182–183
activities, 162–163
approaches to, 169–171
basic principles of, 164
challenges to, 171–175
challenges to social policy, 176–177
changes, 162–163
of citizens, 162–163
forest rights case study Koska Village, 169–170
measures to mitigate social costs, 178–179
programmes, 164–165
role of social policy in social, 178
schemes, 5, 7, 162–163
social policy for developmental projects, 170–171
Soil harvesting, 127
Spoofing, 141
SRLM, 184–187
Stakeholders, 179–180
in financial system, 51–59
inclusive money markets in India, 57–58
major financial intermediaries in Indian financial system, 58–59
nature of markets and role of financial intermediaries, 54
role of financial intermediary in economy, 53–54
supply-side factors, 54–55
value creation and role of financial intermediaries, 54
State Cooperative Banks (SCBs), 129
State Service Delivery Gateway (SSDG), 64
State Wide Area Network (SWAN), 64
Stockholm Declaration (1972), 154–155
Structural factors, financial inclusion, 63–64
Structural social capital, 30–33
Structural sources, 30–31
Structuralist approach to social capital, 31–32
Subsidies, 11–12, 144, 146
subsidy linked schemes, 129
subsidy-linked insurance schemes, 131–132
Sukanya Smridhi scheme, 5–7
Supply-factors, 54–55
Supply-side barriers, 137–141
Supply-side factors, 54–55
Sustainable Development Goal (SDG), 2–3, 14–15, 149–150, 152
case study of Kuttanad, Kerala, 153–154
case study of women community group, 151
climate change, 152–154
human rights approach to, 154–157
indigenous people’s right to self-determination, 152–153
poverty reduction, 144–147
right to health and social security, 147–149
women empowerment and gender equality, 149–151
‘Swachh Bharat Mission’, 147–148
Swarn Jayanti Gram Swarozgar Yojana (SGSY), 148–149, 163–164
Synthetic products, 54
Technological identity, 73
Technology, 76, 81, 96
difference between technology users and non-users, 73–74
reforming E-government through, 102–108
social factors role in adoption of, 73
use of technology by financial institutions, 106–107
Transaction cost, 166
Transparency, 180
Treasury Bills, 55, 57
UN Framework Convention on Climate Change (UNFCCC), 155
Unified Payment Interface (UPI), 70–71, 111–112
Unique Identification Number (UID), 62–63, 107–108
Unique Payment Identification (UPI), 96–97, 108
United Nations (UN), 14, 144
UN Development Group, 144
UN SDGs, 15, 144, 146
UN sustainable development goals and role of Indian Government, 61–62
United Nations Economics and Social Council (1988), 3–4
Universal Declaration of Human Rights, 147–148
Unstructured Supplementary Service Data (USSD), 96–97
Valuable, inimitable and rare organisational resources (VRIO resources), 38, 88–89
Value creation, 54–55
and role of financial intermediaries, 54
Vedas, 8–9
Vienna Convention, 152
Village community of Meghalaya, 23–24
Water harvesting, 127
Welfare system, inequalities within, 174–175
Welfarist state policy, 144–146
Women community group, case study of, 151
Women empowerment, 124, 184, 187
and gender equality, 149–151
government action for, 157
poverty reduction and, 5–7
World Bank, The, 2–4, 25, 95–96
World Trade Organization (WTO), 95–96
Zero Hunger, 14
Immediate Payment Services (IMPS), 108, 111
Incentive Focussed Strategy, 182
Inclusive financial system, 59–60, 121–122
ATMA, 127–128
Bank Accounts and Kisan Credit Cards, 130
challenges to, 133–141
challenges to inclusive financial systems, 133–141
comparison with Indian scenario, 125–126
demand side barriers, 133–137
digital and financial inclusive system, 62–64
digitisation of bombay stock exchange, 48
factors that impact financial inclusion, 63–64
farmer producer companies and organised farmers, 131
financial intermediation and social intermediation, 64–65
financial literacy and financial inclusion, 60–62
financial systems in India, 120–123
formal vs. informal sources of finance, 131
inclusive financial system, 59–60
Indian agriculture, 128–129
Indian financial systems, 49–51
informal sources of finance, 132–133
institutional credit, 129
issues in Indian Agricultural Credit System, 129–130
Kisan Credit Card Ownership and land holdings, 130
literacy and impact on Kisan credit card ownership, 130
MNAIS, 126–127
organised farmers, 131
outreach and usage, 61–62
particular focus on rural agricultural finance, 124–125
PMJDY, 119–120
Pradhan Mantri Fasal Bima Yojana, 128
price support scheme and e-NAM, 127–128
priorities in, 120
Rashtriya Krishak Vikas Yojana, 127
rural and urban divide in KCC, 130
small farmer coverage, 131–132
stakeholders in financial system, 51–59
subsidy linked schemes, 129
supply-side barriers, 137–141
UN sustainable development goals and role of Indian Government, 61–62
Inclusive money markets in India, 57–58
India, 8, 97–98, 119–120
case study of Dhokra community in, 32–33
case study of self-help group in, 35–36
e-Governance in, 98–99
e-governance initiatives in, 106
financial inclusion in, 106–108
financial systems in, 120–123
inclusive money markets in, 57–58
issues and challenges to financial system in, 88
payment banks in, 112–113
progress of digital financial inclusion in, 74–75
social capital in context of microfinance in, 36–38
stack, 114
transforming India’s Digital Payment Landscape, 108–112
Indian Agricultural Credit System, 132
issues in, 129–130
Indian agriculture, 128–130
Indian agriculturists, 129–130
Indian constitution, 8
Indian context, 36–37
Indian economic system, 120
Indian economy, 125–126, 128–129, 152, 162–163
Indian financial systemsystems, 49, 51, 53
financial intermediaries in Indian financial system major, 58–59
Indian forests, 169
Indian Government, The, 3–5, 7, 70–71, 74, 126, 155
UN sustainable development goals and role of, 61–62
Indian stack, 101–102
Indigenous people’s right to self-determination, 152–153
Indira Awas Yojana (IAY), 149
Indira Gandhi Old Age Pension Scheme (IGNOPAS), 149
Indus valley civilisation, 8–9
Inequalities, 8, 10, 158
Informal Borrowing and Lending programme, 25
Informal sources of finance. See also Formal sources of finance, 131–133
borrowings from self-help groups, 132–133
money lenders, 132
Information Communication Technology (ICT), 25–26, 60, 62–63, 70–71, 73, 96, 116, 184, 187
platforms, 74
Information Technology (IT), 73, 100–101
project, 81
Information technology-enabled services (ITES), 100–101
Initial Public Offering (IPO), 48, 58
Institutional capacity, 19
Institutional credit, 129
Instrumental relevance, 13
Insurance, 44
companies, 59
Integrated Child Development Scheme, 162–163
Integrated farming, 127
Interactions in e-Governance, types of, 104
Internal Working Committee, 57
International Labour Organisation (ILO), 2–3, 147–148
International Monetary Funds (IMF), 95–96
International Year of Financial Inclusion, 10–11
Internationalisation, 53
Investment contracts, 53
Ippimala (hilltop), 33–34
Islam, 9
‘Jal Jeevan Mission’, 147–148
Joint Forest Management Act, 169
Joint Forest Management Committee, 170
Kisan Credit Card (KCC), 130, 139
literacy and impact on, 130
ownership, 130
scheme, 124–126, 129–130
Know Your Customer (KYC), 108
Kudumbu (house of Paniya), 33
Land holdings, 130
Lenders, 122–123
Liberalisation, 53
LIFE (movement), 155
Liquidity Adjustment Facility (LAF), 55, 57
Loan commitment, 49–50
Local communities, 33–34
Machine learning, 102–103
Macro-level factors, 74
Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA Act), 127, 148–149, 155–156, 162–164
Mahatma Gandhi National Rural Employment Guarantee Act (2005) (MGNREGA), 157
Mandatory System of Priority Lending (1972), 25
Manjadikuru (lucky red seeds), 33–34
Market
capitalism, 19–20
market-based approach, 53
nature of markets and role of financial intermediaries, 54
stabilisation system, 57
Marketing systems, 19
Material possession, 16
Materiality, 180
Maternity benefit act (2017), 150
Media, 42
Medium and Small Enterprises (MSME), 140
Medium Small Enterprise (MSE), 140
Meghalaya, flower industry and village community of, 23–24
Meghraj (service), 100–101
Mesopotamians, 94
Micro level factors, 74
Micro-Automated Teller Machines (Micro-ATMs), 147
Microfinance, 27, 39, 41, 86
microfinance-based model, 39
programme, 164–165
Microfinance in India, 88
social capital in context of, 36–38
Microfinance institutions (MFI), 34, 88, 138
lending by, 138
Mid-Day Meal (MDM), 163–164
Scheme, 161–162
Ministry of Finance, The, 57
Mission Drift, 12–13
Mobile Banking, 74
Mobile Wallets, 74
Modernisation of Ghazipur Mandi, 13–14
Modified National Agricultural Insurance Scheme (MNAIS), 126–127
Money, 94–95
markets, 55
repo rate, 55
Multiple Performance Evaluation systems, 181–182
Mutual Funds, 59
Mutually Aided Cooperative Society (MAC Society), 42–43
Mysore Resettlement and Development Agency (MYRADA), 25, 86
NABARD, 5, 7, 24, 26–27, 44, 60, 86, 130
panchsutras, 25
Nachiket Mor Committee, The, 70–71, 107–108
Narasimhan Committee, The, 51, 53, 57
National Agricultural Markets, 127–128
National Automated Clearing Systems (NACH), 93–94
National Centre for Financial Education, 60
National e-Governance Plan (NeGP), 62–63, 103, 105, 107–108
National Electronic Toll Collection System (NETC), 108–111
National Financial Switch (NFS), 93–94
National Food Security Act (NFSA), 156–157
National Health Mission (NHM), 156
National Human Right Institutions, 144
National Identification Number, 101–102
National Informatics Centric (NICS), 106
National Institute of Mental Health and Neuro Sciences (NIMHANS), 157
National Livelihood Mission, 155–156
National Payment Corporation of India (NPCI), 70–71, 101–102
National Planning Committee, 2–3
National policy, objectives of, 181–182
agency problem and social projects, 181–182
National Rural Employment Guarantee Scheme, 162–163
National Rural Health Mission (NRHM), 163–164
National Rural Livelihood Mission (NRLM), 43, 139, 184, 187
National Sample Survey Organization (NSSO), 129
National Social Assistance Programme, 155–156
National Stock Exchange (NSE), 57
Nationalisation of banks, 25
Negative externalities, 166–168
Negotiation process, 7–8
Neo-banking, 73–74
Neo-liberal market theory, 120
Networks, 30–31
social capital and information flow through, 35–36
New India Strategy (2022), 155–156
NICNET (satellite-based computer network), 106
NITI Aayog, 108
No Objection Certificate (NOC), 131
Noble Committee, The, 1
Non-banking Financial Companies, 59
Non-government organisation (NGO), 25, 31–33, 44
NGO PRADAN, 25
Non-Performing Assets (NPAs), 51, 53, 140
Office of the High Commissioner for Human Rights, The, 144
Online applications, 96–97
Oolay (earrings of Paniya tribe), 33–34
Opportunity Cost Principle, 182
Organisational agility, 76–81
Organisations, example of social capital in, 34
Organised farmers, 131
Organizational agility, 76–81
Paadi (house of Paniya Tribe), 33
Panchayati Raj Institution, 184–187
Paniya Tribe, example of social capital in, 33–34
Paradox of moral hazard in group lending scenario, 26–27
Pareto optimalityof poverty, 163–164
‘Paris Agreement’, 152
Paris Convention, The, 152
Payment Banks, 108
in India, 112–113
Peer pressure, 25
Performance incentives, lack of, 173
Personal Identification Number (PIN), 102
Phishing, 140–141
Piloting and Mainstreaming of SHG Movement in (1992–1996), 25
Pire (house of Paniya), 33
Planning process, 176
Point of Sales (PoS), 75
Policy
ecosystem, 108
financial inclusion policy factors, 63–64
framework for digital inclusion, 70–71
Positive externalities, 165
Post-Washington consensus’, 19–20
Poverty, 2–3, 5, 7, 24, 158, 173–174
bedrock of, 5–7
case study on poverty reduction in Akodara Village, Gujarat, 146–147
digitisation and modernisation of Ghazipur Mandi, 13–14
dimensions of, 15
factors of constitutive relevance, 7–10
factors of instrumental importance, 10–14
impact of financial inclusion, 10–12
government action for, 155–156
handicraft industry in Nepal, 2
importance of capacity building, 19
paradigms of, 2
Pareto optimality and social evil of, 163–164
poverty reduction and women empowerment, 5–7
reduction, 144–147
under SBLP, 25–27
strategies for poverty reduction, 18–19
SDG and, 14–15
trade-off between profitability and social objectives, 12–13
Pradhan Mantri Awas Yojana, 155–156
Pradhan Mantri Fasal Bima Yojana, 128
Pradhan Mantri Gram Sadak Yojana, 155–156
Pradhan Mantri Gramin Digital Saksharta Abhiyaan (PMDISHA), 63–64
Pradhan Mantri Jan Dhan Yojana (PMJDY), 61–62, 71, 74–76, 86, 90, 102, 106–108, 119–120, 139, 156
social perspective, 119–120
Pradhan Mantri Jeevan Beema Yojana (PMJBY), 147–148
Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), 156–157
Pradhan Mantri Ujjwala Yojana (PMUY), 157
Pre-paid instruments (PPI), 108–111
Price Support Scheme, 127–128
Primary Agriculture Cooperatives (PACs), 129, 131
Prime Minister’s Employment Generation Programme (PMEGP), 157
Producer Companies, 131
Public Distribution System (PDS), 148–149, 162–163
Public Private Partnership (PPP), 151–152
Racism, 7–8
Rangarajan Committee, 2–3
Ransomware, 140
Rape, 5–7
Rashtriya Krishak Vikas Yojana, 127
Rashtriya Swasthya Bima Yojana (RSBY), 148–149
Real Time Gross Settlements (RTGS), 75
Regional Rural Banks (RRBs), 129, 139
Relational poverty, 8–10
Relational social capital, 30–32
Religious activities, 164
Reserve Bank of India (RBI), 10–11, 57, 60, 70–71, 108, 114, 131, 139
Resource-based view (RBV), 38, 86, 88
Resources, 39
Responsibility, 144–146
Return on investment (ROI), 12–13, 88, 175
Rig Veda, 8–9
Right to education, 149–150
Right to Health and Social Security, 147–149
Rio Declaration (1992), 154–155
Risk management technology, 106–107
RuPAY, 108
Rural agricultural finance, particular focus on, 124–125
Saltwater barrier, 154
Sarv Shiksha Abhiyaan (SSA), 163–164
Savings groups for poverty alleviation in Rajasthan, 25
SBLP, poverty and social contract under, 25–27
Scale of Finance (SOF), 129–130
Securities and Contracts Regulations Act (1956), 57–58
Securities and Exchange Board of India (SEBI), 57–58, 122, 136
SEBI Act (1992), 57–58
Self Finance Group, 184–187
Self-determination, indigenous people’s right to, 152–153
Self-Help Group (SHG), 25–27, 36–37, 43–44, 125, 166, 168
borrowings from, 132–133
case study of SHG in India, 35–36
externalities of, 166–168
linkage, 132–133
linkage programme, 25
Rehman and self-help promoting institute helping to form, 143–144
SHG bank linkage programme, 84–88
social perspective, 143–144
technology acceptance model, 86–88
Self-Help Group Bank Linkage Program (SBLP), 24, 44–45, 132–133
Self-Help Promoting Institution (SHPI), 31–32, 143–144
Rehman and SHPI helping to form self-help groups, 143–144
Semi-formal group lending, 123
Sericulture, 127
Shock therapy-based neoliberalism, 19–20
Shyama Prasad Mukherjee Rural Urban Mission (SPMRM), 155–156
Sikhism, 9
Simple, Moral, Accountable, Responsive, and Transparent (SMART), 105
Skill Development Programme, 155–156
Social activities, 162–163
Social benefit analysis, 182–184
principle to determine benefit of social project, 182–184
Social capital, 40–41, 88–89, 115–116
case study of Banswara Village, 27
case study of Dhokra Community in India, 32–33
case study of self-help group in India, 35–36
community, 39–41
community organisations, 41
in context of microfinance in India, 36–38
dimensions of social capital, 32–33
example of social capital in organisations, 34
example of social capital in Paniya Tribe, 33–34
flower industry and village community of Meghalaya, 23–24
and information flow through networks, 35–36
MAC Society, 42–43
metaphor of capital, 30–31
paradox of moral hazard in group lending scenario, 26–27
poverty and social contract under SBLP, 25–27
principles of Community Organisations, 41–44
role of social capital as collateral, 27–30
self-help group, 43–44
self-help group linkage programme, 25
social capital and exchange, 33–34
social organisation and role in promoting social capital, 38–39
social perspective, 23–24
structuralist approach to social capital, 31–32
systems view of, 28–30
Social Cohesion, 16, 25–26
Social contract, 25–26, 37–38
under SBLP, 25–27
Social costs, 165
measures tomitigate, 178–179
Social development process, 133–134
Social discrimination, 158
Social environment, 71–73
Social evil of poverty, 163–164
Social exclusion, 5, 7–8
Social factors role in adoption of technology, 73
‘Social injustice’, 2–3
Social innovation, 84–88
Social intermediation, 64–65
Social mobility, 16
Social networks, 71–73
Social organisations, 88–89
and role in promoting social capital, 38–39
Social planning, 176–179
challenges to social policy, 176–177
measures to mitigate social costs, 178–179
role of social policy in social, 178
Social policy, 176
challenges to, 176–177
for developmental projects, 170–171
role in social, 178
Social projects, 180–182
digitization of social project evaluation, 184–187
principle to determine benefit of, 182–184
Social protection schemes, 147–149
Social scheme, 144, 146, 161–162
Social security
case study of initiatives in domain of, 148–149
Government action for, 156–157
Social structure, 162–163
Social systems, 174–175
Social values, principle of, 179–180
Social welfare, 163–164, 176, 179, 182–183
activities, 162–163
approaches to, 169–171
basic principles of, 164
challenges to, 171–175
challenges to social policy, 176–177
changes, 162–163
of citizens, 162–163
forest rights case study Koska Village, 169–170
measures to mitigate social costs, 178–179
programmes, 164–165
role of social policy in social, 178
schemes, 5, 7, 162–163
social policy for developmental projects, 170–171
Soil harvesting, 127
Spoofing, 141
SRLM, 184–187
Stakeholders, 179–180
in financial system, 51–59
inclusive money markets in India, 57–58
major financial intermediaries in Indian financial system, 58–59
nature of markets and role of financial intermediaries, 54
role of financial intermediary in economy, 53–54
supply-side factors, 54–55
value creation and role of financial intermediaries, 54
State Cooperative Banks (SCBs), 129
State Service Delivery Gateway (SSDG), 64
State Wide Area Network (SWAN), 64
Stockholm Declaration (1972), 154–155
Structural factors, financial inclusion, 63–64
Structural social capital, 30–33
Structural sources, 30–31
Structuralist approach to social capital, 31–32
Subsidies, 11–12, 144, 146
subsidy linked schemes, 129
subsidy-linked insurance schemes, 131–132
Sukanya Smridhi scheme, 5–7
Supply-factors, 54–55
Supply-side barriers, 137–141
Supply-side factors, 54–55
Sustainable Development Goal (SDG), 2–3, 14–15, 149–150, 152
case study of Kuttanad, Kerala, 153–154
case study of women community group, 151
climate change, 152–154
human rights approach to, 154–157
indigenous people’s right to self-determination, 152–153
poverty reduction, 144–147
right to health and social security, 147–149
women empowerment and gender equality, 149–151
‘Swachh Bharat Mission’, 147–148
Swarn Jayanti Gram Swarozgar Yojana (SGSY), 148–149, 163–164
Synthetic products, 54
Technological identity, 73
Technology, 76, 81, 96
difference between technology users and non-users, 73–74
reforming E-government through, 102–108
social factors role in adoption of, 73
use of technology by financial institutions, 106–107
Transaction cost, 166
Transparency, 180
Treasury Bills, 55, 57
UN Framework Convention on Climate Change (UNFCCC), 155
Unified Payment Interface (UPI), 70–71, 111–112
Unique Identification Number (UID), 62–63, 107–108
Unique Payment Identification (UPI), 96–97, 108
United Nations (UN), 14, 144
UN Development Group, 144
UN SDGs, 15, 144, 146
UN sustainable development goals and role of Indian Government, 61–62
United Nations Economics and Social Council (1988), 3–4
Universal Declaration of Human Rights, 147–148
Unstructured Supplementary Service Data (USSD), 96–97
Valuable, inimitable and rare organisational resources (VRIO resources), 38, 88–89
Value creation, 54–55
and role of financial intermediaries, 54
Vedas, 8–9
Vienna Convention, 152
Village community of Meghalaya, 23–24
Water harvesting, 127
Welfare system, inequalities within, 174–175
Welfarist state policy, 144–146
Women community group, case study of, 151
Women empowerment, 124, 184, 187
and gender equality, 149–151
government action for, 157
poverty reduction and, 5–7
World Bank, The, 2–4, 25, 95–96
World Trade Organization (WTO), 95–96
Zero Hunger, 14
Kisan Credit Card (KCC), 130, 139
literacy and impact on, 130
ownership, 130
scheme, 124–126, 129–130
Know Your Customer (KYC), 108
Kudumbu (house of Paniya), 33
Land holdings, 130
Lenders, 122–123
Liberalisation, 53
LIFE (movement), 155
Liquidity Adjustment Facility (LAF), 55, 57
Loan commitment, 49–50
Local communities, 33–34
Machine learning, 102–103
Macro-level factors, 74
Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA Act), 127, 148–149, 155–156, 162–164
Mahatma Gandhi National Rural Employment Guarantee Act (2005) (MGNREGA), 157
Mandatory System of Priority Lending (1972), 25
Manjadikuru (lucky red seeds), 33–34
Market
capitalism, 19–20
market-based approach, 53
nature of markets and role of financial intermediaries, 54
stabilisation system, 57
Marketing systems, 19
Material possession, 16
Materiality, 180
Maternity benefit act (2017), 150
Media, 42
Medium and Small Enterprises (MSME), 140
Medium Small Enterprise (MSE), 140
Meghalaya, flower industry and village community of, 23–24
Meghraj (service), 100–101
Mesopotamians, 94
Micro level factors, 74
Micro-Automated Teller Machines (Micro-ATMs), 147
Microfinance, 27, 39, 41, 86
microfinance-based model, 39
programme, 164–165
Microfinance in India, 88
social capital in context of, 36–38
Microfinance institutions (MFI), 34, 88, 138
lending by, 138
Mid-Day Meal (MDM), 163–164
Scheme, 161–162
Ministry of Finance, The, 57
Mission Drift, 12–13
Mobile Banking, 74
Mobile Wallets, 74
Modernisation of Ghazipur Mandi, 13–14
Modified National Agricultural Insurance Scheme (MNAIS), 126–127
Money, 94–95
markets, 55
repo rate, 55
Multiple Performance Evaluation systems, 181–182
Mutual Funds, 59
Mutually Aided Cooperative Society (MAC Society), 42–43
Mysore Resettlement and Development Agency (MYRADA), 25, 86
NABARD, 5, 7, 24, 26–27, 44, 60, 86, 130
panchsutras, 25
Nachiket Mor Committee, The, 70–71, 107–108
Narasimhan Committee, The, 51, 53, 57
National Agricultural Markets, 127–128
National Automated Clearing Systems (NACH), 93–94
National Centre for Financial Education, 60
National e-Governance Plan (NeGP), 62–63, 103, 105, 107–108
National Electronic Toll Collection System (NETC), 108–111
National Financial Switch (NFS), 93–94
National Food Security Act (NFSA), 156–157
National Health Mission (NHM), 156
National Human Right Institutions, 144
National Identification Number, 101–102
National Informatics Centric (NICS), 106
National Institute of Mental Health and Neuro Sciences (NIMHANS), 157
National Livelihood Mission, 155–156
National Payment Corporation of India (NPCI), 70–71, 101–102
National Planning Committee, 2–3
National policy, objectives of, 181–182
agency problem and social projects, 181–182
National Rural Employment Guarantee Scheme, 162–163
National Rural Health Mission (NRHM), 163–164
National Rural Livelihood Mission (NRLM), 43, 139, 184, 187
National Sample Survey Organization (NSSO), 129
National Social Assistance Programme, 155–156
National Stock Exchange (NSE), 57
Nationalisation of banks, 25
Negative externalities, 166–168
Negotiation process, 7–8
Neo-banking, 73–74
Neo-liberal market theory, 120
Networks, 30–31
social capital and information flow through, 35–36
New India Strategy (2022), 155–156
NICNET (satellite-based computer network), 106
NITI Aayog, 108
No Objection Certificate (NOC), 131
Noble Committee, The, 1
Non-banking Financial Companies, 59
Non-government organisation (NGO), 25, 31–33, 44
NGO PRADAN, 25
Non-Performing Assets (NPAs), 51, 53, 140
Office of the High Commissioner for Human Rights, The, 144
Online applications, 96–97
Oolay (earrings of Paniya tribe), 33–34
Opportunity Cost Principle, 182
Organisational agility, 76–81
Organisations, example of social capital in, 34
Organised farmers, 131
Organizational agility, 76–81
Paadi (house of Paniya Tribe), 33
Panchayati Raj Institution, 184–187
Paniya Tribe, example of social capital in, 33–34
Paradox of moral hazard in group lending scenario, 26–27
Pareto optimalityof poverty, 163–164
‘Paris Agreement’, 152
Paris Convention, The, 152
Payment Banks, 108
in India, 112–113
Peer pressure, 25
Performance incentives, lack of, 173
Personal Identification Number (PIN), 102
Phishing, 140–141
Piloting and Mainstreaming of SHG Movement in (1992–1996), 25
Pire (house of Paniya), 33
Planning process, 176
Point of Sales (PoS), 75
Policy
ecosystem, 108
financial inclusion policy factors, 63–64
framework for digital inclusion, 70–71
Positive externalities, 165
Post-Washington consensus’, 19–20
Poverty, 2–3, 5, 7, 24, 158, 173–174
bedrock of, 5–7
case study on poverty reduction in Akodara Village, Gujarat, 146–147
digitisation and modernisation of Ghazipur Mandi, 13–14
dimensions of, 15
factors of constitutive relevance, 7–10
factors of instrumental importance, 10–14
impact of financial inclusion, 10–12
government action for, 155–156
handicraft industry in Nepal, 2
importance of capacity building, 19
paradigms of, 2
Pareto optimality and social evil of, 163–164
poverty reduction and women empowerment, 5–7
reduction, 144–147
under SBLP, 25–27
strategies for poverty reduction, 18–19
SDG and, 14–15
trade-off between profitability and social objectives, 12–13
Pradhan Mantri Awas Yojana, 155–156
Pradhan Mantri Fasal Bima Yojana, 128
Pradhan Mantri Gram Sadak Yojana, 155–156
Pradhan Mantri Gramin Digital Saksharta Abhiyaan (PMDISHA), 63–64
Pradhan Mantri Jan Dhan Yojana (PMJDY), 61–62, 71, 74–76, 86, 90, 102, 106–108, 119–120, 139, 156
social perspective, 119–120
Pradhan Mantri Jeevan Beema Yojana (PMJBY), 147–148
Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), 156–157
Pradhan Mantri Ujjwala Yojana (PMUY), 157
Pre-paid instruments (PPI), 108–111
Price Support Scheme, 127–128
Primary Agriculture Cooperatives (PACs), 129, 131
Prime Minister’s Employment Generation Programme (PMEGP), 157
Producer Companies, 131
Public Distribution System (PDS), 148–149, 162–163
Public Private Partnership (PPP), 151–152
Racism, 7–8
Rangarajan Committee, 2–3
Ransomware, 140
Rape, 5–7
Rashtriya Krishak Vikas Yojana, 127
Rashtriya Swasthya Bima Yojana (RSBY), 148–149
Real Time Gross Settlements (RTGS), 75
Regional Rural Banks (RRBs), 129, 139
Relational poverty, 8–10
Relational social capital, 30–32
Religious activities, 164
Reserve Bank of India (RBI), 10–11, 57, 60, 70–71, 108, 114, 131, 139
Resource-based view (RBV), 38, 86, 88
Resources, 39
Responsibility, 144–146
Return on investment (ROI), 12–13, 88, 175
Rig Veda, 8–9
Right to education, 149–150
Right to Health and Social Security, 147–149
Rio Declaration (1992), 154–155
Risk management technology, 106–107
RuPAY, 108
Rural agricultural finance, particular focus on, 124–125
Saltwater barrier, 154
Sarv Shiksha Abhiyaan (SSA), 163–164
Savings groups for poverty alleviation in Rajasthan, 25
SBLP, poverty and social contract under, 25–27
Scale of Finance (SOF), 129–130
Securities and Contracts Regulations Act (1956), 57–58
Securities and Exchange Board of India (SEBI), 57–58, 122, 136
SEBI Act (1992), 57–58
Self Finance Group, 184–187
Self-determination, indigenous people’s right to, 152–153
Self-Help Group (SHG), 25–27, 36–37, 43–44, 125, 166, 168
borrowings from, 132–133
case study of SHG in India, 35–36
externalities of, 166–168
linkage, 132–133
linkage programme, 25
Rehman and self-help promoting institute helping to form, 143–144
SHG bank linkage programme, 84–88
social perspective, 143–144
technology acceptance model, 86–88
Self-Help Group Bank Linkage Program (SBLP), 24, 44–45, 132–133
Self-Help Promoting Institution (SHPI), 31–32, 143–144
Rehman and SHPI helping to form self-help groups, 143–144
Semi-formal group lending, 123
Sericulture, 127
Shock therapy-based neoliberalism, 19–20
Shyama Prasad Mukherjee Rural Urban Mission (SPMRM), 155–156
Sikhism, 9
Simple, Moral, Accountable, Responsive, and Transparent (SMART), 105
Skill Development Programme, 155–156
Social activities, 162–163
Social benefit analysis, 182–184
principle to determine benefit of social project, 182–184
Social capital, 40–41, 88–89, 115–116
case study of Banswara Village, 27
case study of Dhokra Community in India, 32–33
case study of self-help group in India, 35–36
community, 39–41
community organisations, 41
in context of microfinance in India, 36–38
dimensions of social capital, 32–33
example of social capital in organisations, 34
example of social capital in Paniya Tribe, 33–34
flower industry and village community of Meghalaya, 23–24
and information flow through networks, 35–36
MAC Society, 42–43
metaphor of capital, 30–31
paradox of moral hazard in group lending scenario, 26–27
poverty and social contract under SBLP, 25–27
principles of Community Organisations, 41–44
role of social capital as collateral, 27–30
self-help group, 43–44
self-help group linkage programme, 25
social capital and exchange, 33–34
social organisation and role in promoting social capital, 38–39
social perspective, 23–24
structuralist approach to social capital, 31–32
systems view of, 28–30
Social Cohesion, 16, 25–26
Social contract, 25–26, 37–38
under SBLP, 25–27
Social costs, 165
measures tomitigate, 178–179
Social development process, 133–134
Social discrimination, 158
Social environment, 71–73
Social evil of poverty, 163–164
Social exclusion, 5, 7–8
Social factors role in adoption of technology, 73
‘Social injustice’, 2–3
Social innovation, 84–88
Social intermediation, 64–65
Social mobility, 16
Social networks, 71–73
Social organisations, 88–89
and role in promoting social capital, 38–39
Social planning, 176–179
challenges to social policy, 176–177
measures to mitigate social costs, 178–179
role of social policy in social, 178
Social policy, 176
challenges to, 176–177
for developmental projects, 170–171
role in social, 178
Social projects, 180–182
digitization of social project evaluation, 184–187
principle to determine benefit of, 182–184
Social protection schemes, 147–149
Social scheme, 144, 146, 161–162
Social security
case study of initiatives in domain of, 148–149
Government action for, 156–157
Social structure, 162–163
Social systems, 174–175
Social values, principle of, 179–180
Social welfare, 163–164, 176, 179, 182–183
activities, 162–163
approaches to, 169–171
basic principles of, 164
challenges to, 171–175
challenges to social policy, 176–177
changes, 162–163
of citizens, 162–163
forest rights case study Koska Village, 169–170
measures to mitigate social costs, 178–179
programmes, 164–165
role of social policy in social, 178
schemes, 5, 7, 162–163
social policy for developmental projects, 170–171
Soil harvesting, 127
Spoofing, 141
SRLM, 184–187
Stakeholders, 179–180
in financial system, 51–59
inclusive money markets in India, 57–58
major financial intermediaries in Indian financial system, 58–59
nature of markets and role of financial intermediaries, 54
role of financial intermediary in economy, 53–54
supply-side factors, 54–55
value creation and role of financial intermediaries, 54
State Cooperative Banks (SCBs), 129
State Service Delivery Gateway (SSDG), 64
State Wide Area Network (SWAN), 64
Stockholm Declaration (1972), 154–155
Structural factors, financial inclusion, 63–64
Structural social capital, 30–33
Structural sources, 30–31
Structuralist approach to social capital, 31–32
Subsidies, 11–12, 144, 146
subsidy linked schemes, 129
subsidy-linked insurance schemes, 131–132
Sukanya Smridhi scheme, 5–7
Supply-factors, 54–55
Supply-side barriers, 137–141
Supply-side factors, 54–55
Sustainable Development Goal (SDG), 2–3, 14–15, 149–150, 152
case study of Kuttanad, Kerala, 153–154
case study of women community group, 151
climate change, 152–154
human rights approach to, 154–157
indigenous people’s right to self-determination, 152–153
poverty reduction, 144–147
right to health and social security, 147–149
women empowerment and gender equality, 149–151
‘Swachh Bharat Mission’, 147–148
Swarn Jayanti Gram Swarozgar Yojana (SGSY), 148–149, 163–164
Synthetic products, 54
Technological identity, 73
Technology, 76, 81, 96
difference between technology users and non-users, 73–74
reforming E-government through, 102–108
social factors role in adoption of, 73
use of technology by financial institutions, 106–107
Transaction cost, 166
Transparency, 180
Treasury Bills, 55, 57
UN Framework Convention on Climate Change (UNFCCC), 155
Unified Payment Interface (UPI), 70–71, 111–112
Unique Identification Number (UID), 62–63, 107–108
Unique Payment Identification (UPI), 96–97, 108
United Nations (UN), 14, 144
UN Development Group, 144
UN SDGs, 15, 144, 146
UN sustainable development goals and role of Indian Government, 61–62
United Nations Economics and Social Council (1988), 3–4
Universal Declaration of Human Rights, 147–148
Unstructured Supplementary Service Data (USSD), 96–97
Valuable, inimitable and rare organisational resources (VRIO resources), 38, 88–89
Value creation, 54–55
and role of financial intermediaries, 54
Vedas, 8–9
Vienna Convention, 152
Village community of Meghalaya, 23–24
Water harvesting, 127
Welfare system, inequalities within, 174–175
Welfarist state policy, 144–146
Women community group, case study of, 151
Women empowerment, 124, 184, 187
and gender equality, 149–151
government action for, 157
poverty reduction and, 5–7
World Bank, The, 2–4, 25, 95–96
World Trade Organization (WTO), 95–96
Zero Hunger, 14
Machine learning, 102–103
Macro-level factors, 74
Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA Act), 127, 148–149, 155–156, 162–164
Mahatma Gandhi National Rural Employment Guarantee Act (2005) (MGNREGA), 157
Mandatory System of Priority Lending (1972), 25
Manjadikuru (lucky red seeds), 33–34
Market
capitalism, 19–20
market-based approach, 53
nature of markets and role of financial intermediaries, 54
stabilisation system, 57
Marketing systems, 19
Material possession, 16
Materiality, 180
Maternity benefit act (2017), 150
Media, 42
Medium and Small Enterprises (MSME), 140
Medium Small Enterprise (MSE), 140
Meghalaya, flower industry and village community of, 23–24
Meghraj (service), 100–101
Mesopotamians, 94
Micro level factors, 74
Micro-Automated Teller Machines (Micro-ATMs), 147
Microfinance, 27, 39, 41, 86
microfinance-based model, 39
programme, 164–165
Microfinance in India, 88
social capital in context of, 36–38
Microfinance institutions (MFI), 34, 88, 138
lending by, 138
Mid-Day Meal (MDM), 163–164
Scheme, 161–162
Ministry of Finance, The, 57
Mission Drift, 12–13
Mobile Banking, 74
Mobile Wallets, 74
Modernisation of Ghazipur Mandi, 13–14
Modified National Agricultural Insurance Scheme (MNAIS), 126–127
Money, 94–95
markets, 55
repo rate, 55
Multiple Performance Evaluation systems, 181–182
Mutual Funds, 59
Mutually Aided Cooperative Society (MAC Society), 42–43
Mysore Resettlement and Development Agency (MYRADA), 25, 86
NABARD, 5, 7, 24, 26–27, 44, 60, 86, 130
panchsutras, 25
Nachiket Mor Committee, The, 70–71, 107–108
Narasimhan Committee, The, 51, 53, 57
National Agricultural Markets, 127–128
National Automated Clearing Systems (NACH), 93–94
National Centre for Financial Education, 60
National e-Governance Plan (NeGP), 62–63, 103, 105, 107–108
National Electronic Toll Collection System (NETC), 108–111
National Financial Switch (NFS), 93–94
National Food Security Act (NFSA), 156–157
National Health Mission (NHM), 156
National Human Right Institutions, 144
National Identification Number, 101–102
National Informatics Centric (NICS), 106
National Institute of Mental Health and Neuro Sciences (NIMHANS), 157
National Livelihood Mission, 155–156
National Payment Corporation of India (NPCI), 70–71, 101–102
National Planning Committee, 2–3
National policy, objectives of, 181–182
agency problem and social projects, 181–182
National Rural Employment Guarantee Scheme, 162–163
National Rural Health Mission (NRHM), 163–164
National Rural Livelihood Mission (NRLM), 43, 139, 184, 187
National Sample Survey Organization (NSSO), 129
National Social Assistance Programme, 155–156
National Stock Exchange (NSE), 57
Nationalisation of banks, 25
Negative externalities, 166–168
Negotiation process, 7–8
Neo-banking, 73–74
Neo-liberal market theory, 120
Networks, 30–31
social capital and information flow through, 35–36
New India Strategy (2022), 155–156
NICNET (satellite-based computer network), 106
NITI Aayog, 108
No Objection Certificate (NOC), 131
Noble Committee, The, 1
Non-banking Financial Companies, 59
Non-government organisation (NGO), 25, 31–33, 44
NGO PRADAN, 25
Non-Performing Assets (NPAs), 51, 53, 140
Office of the High Commissioner for Human Rights, The, 144
Online applications, 96–97
Oolay (earrings of Paniya tribe), 33–34
Opportunity Cost Principle, 182
Organisational agility, 76–81
Organisations, example of social capital in, 34
Organised farmers, 131
Organizational agility, 76–81
Paadi (house of Paniya Tribe), 33
Panchayati Raj Institution, 184–187
Paniya Tribe, example of social capital in, 33–34
Paradox of moral hazard in group lending scenario, 26–27
Pareto optimalityof poverty, 163–164
‘Paris Agreement’, 152
Paris Convention, The, 152
Payment Banks, 108
in India, 112–113
Peer pressure, 25
Performance incentives, lack of, 173
Personal Identification Number (PIN), 102
Phishing, 140–141
Piloting and Mainstreaming of SHG Movement in (1992–1996), 25
Pire (house of Paniya), 33
Planning process, 176
Point of Sales (PoS), 75
Policy
ecosystem, 108
financial inclusion policy factors, 63–64
framework for digital inclusion, 70–71
Positive externalities, 165
Post-Washington consensus’, 19–20
Poverty, 2–3, 5, 7, 24, 158, 173–174
bedrock of, 5–7
case study on poverty reduction in Akodara Village, Gujarat, 146–147
digitisation and modernisation of Ghazipur Mandi, 13–14
dimensions of, 15
factors of constitutive relevance, 7–10
factors of instrumental importance, 10–14
impact of financial inclusion, 10–12
government action for, 155–156
handicraft industry in Nepal, 2
importance of capacity building, 19
paradigms of, 2
Pareto optimality and social evil of, 163–164
poverty reduction and women empowerment, 5–7
reduction, 144–147
under SBLP, 25–27
strategies for poverty reduction, 18–19
SDG and, 14–15
trade-off between profitability and social objectives, 12–13
Pradhan Mantri Awas Yojana, 155–156
Pradhan Mantri Fasal Bima Yojana, 128
Pradhan Mantri Gram Sadak Yojana, 155–156
Pradhan Mantri Gramin Digital Saksharta Abhiyaan (PMDISHA), 63–64
Pradhan Mantri Jan Dhan Yojana (PMJDY), 61–62, 71, 74–76, 86, 90, 102, 106–108, 119–120, 139, 156
social perspective, 119–120
Pradhan Mantri Jeevan Beema Yojana (PMJBY), 147–148
Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), 156–157
Pradhan Mantri Ujjwala Yojana (PMUY), 157
Pre-paid instruments (PPI), 108–111
Price Support Scheme, 127–128
Primary Agriculture Cooperatives (PACs), 129, 131
Prime Minister’s Employment Generation Programme (PMEGP), 157
Producer Companies, 131
Public Distribution System (PDS), 148–149, 162–163
Public Private Partnership (PPP), 151–152
Racism, 7–8
Rangarajan Committee, 2–3
Ransomware, 140
Rape, 5–7
Rashtriya Krishak Vikas Yojana, 127
Rashtriya Swasthya Bima Yojana (RSBY), 148–149
Real Time Gross Settlements (RTGS), 75
Regional Rural Banks (RRBs), 129, 139
Relational poverty, 8–10
Relational social capital, 30–32
Religious activities, 164
Reserve Bank of India (RBI), 10–11, 57, 60, 70–71, 108, 114, 131, 139
Resource-based view (RBV), 38, 86, 88
Resources, 39
Responsibility, 144–146
Return on investment (ROI), 12–13, 88, 175
Rig Veda, 8–9
Right to education, 149–150
Right to Health and Social Security, 147–149
Rio Declaration (1992), 154–155
Risk management technology, 106–107
RuPAY, 108
Rural agricultural finance, particular focus on, 124–125
Saltwater barrier, 154
Sarv Shiksha Abhiyaan (SSA), 163–164
Savings groups for poverty alleviation in Rajasthan, 25
SBLP, poverty and social contract under, 25–27
Scale of Finance (SOF), 129–130
Securities and Contracts Regulations Act (1956), 57–58
Securities and Exchange Board of India (SEBI), 57–58, 122, 136
SEBI Act (1992), 57–58
Self Finance Group, 184–187
Self-determination, indigenous people’s right to, 152–153
Self-Help Group (SHG), 25–27, 36–37, 43–44, 125, 166, 168
borrowings from, 132–133
case study of SHG in India, 35–36
externalities of, 166–168
linkage, 132–133
linkage programme, 25
Rehman and self-help promoting institute helping to form, 143–144
SHG bank linkage programme, 84–88
social perspective, 143–144
technology acceptance model, 86–88
Self-Help Group Bank Linkage Program (SBLP), 24, 44–45, 132–133
Self-Help Promoting Institution (SHPI), 31–32, 143–144
Rehman and SHPI helping to form self-help groups, 143–144
Semi-formal group lending, 123
Sericulture, 127
Shock therapy-based neoliberalism, 19–20
Shyama Prasad Mukherjee Rural Urban Mission (SPMRM), 155–156
Sikhism, 9
Simple, Moral, Accountable, Responsive, and Transparent (SMART), 105
Skill Development Programme, 155–156
Social activities, 162–163
Social benefit analysis, 182–184
principle to determine benefit of social project, 182–184
Social capital, 40–41, 88–89, 115–116
case study of Banswara Village, 27
case study of Dhokra Community in India, 32–33
case study of self-help group in India, 35–36
community, 39–41
community organisations, 41
in context of microfinance in India, 36–38
dimensions of social capital, 32–33
example of social capital in organisations, 34
example of social capital in Paniya Tribe, 33–34
flower industry and village community of Meghalaya, 23–24
and information flow through networks, 35–36
MAC Society, 42–43
metaphor of capital, 30–31
paradox of moral hazard in group lending scenario, 26–27
poverty and social contract under SBLP, 25–27
principles of Community Organisations, 41–44
role of social capital as collateral, 27–30
self-help group, 43–44
self-help group linkage programme, 25
social capital and exchange, 33–34
social organisation and role in promoting social capital, 38–39
social perspective, 23–24
structuralist approach to social capital, 31–32
systems view of, 28–30
Social Cohesion, 16, 25–26
Social contract, 25–26, 37–38
under SBLP, 25–27
Social costs, 165
measures tomitigate, 178–179
Social development process, 133–134
Social discrimination, 158
Social environment, 71–73
Social evil of poverty, 163–164
Social exclusion, 5, 7–8
Social factors role in adoption of technology, 73
‘Social injustice’, 2–3
Social innovation, 84–88
Social intermediation, 64–65
Social mobility, 16
Social networks, 71–73
Social organisations, 88–89
and role in promoting social capital, 38–39
Social planning, 176–179
challenges to social policy, 176–177
measures to mitigate social costs, 178–179
role of social policy in social, 178
Social policy, 176
challenges to, 176–177
for developmental projects, 170–171
role in social, 178
Social projects, 180–182
digitization of social project evaluation, 184–187
principle to determine benefit of, 182–184
Social protection schemes, 147–149
Social scheme, 144, 146, 161–162
Social security
case study of initiatives in domain of, 148–149
Government action for, 156–157
Social structure, 162–163
Social systems, 174–175
Social values, principle of, 179–180
Social welfare, 163–164, 176, 179, 182–183
activities, 162–163
approaches to, 169–171
basic principles of, 164
challenges to, 171–175
challenges to social policy, 176–177
changes, 162–163
of citizens, 162–163
forest rights case study Koska Village, 169–170
measures to mitigate social costs, 178–179
programmes, 164–165
role of social policy in social, 178
schemes, 5, 7, 162–163
social policy for developmental projects, 170–171
Soil harvesting, 127
Spoofing, 141
SRLM, 184–187
Stakeholders, 179–180
in financial system, 51–59
inclusive money markets in India, 57–58
major financial intermediaries in Indian financial system, 58–59
nature of markets and role of financial intermediaries, 54
role of financial intermediary in economy, 53–54
supply-side factors, 54–55
value creation and role of financial intermediaries, 54
State Cooperative Banks (SCBs), 129
State Service Delivery Gateway (SSDG), 64
State Wide Area Network (SWAN), 64
Stockholm Declaration (1972), 154–155
Structural factors, financial inclusion, 63–64
Structural social capital, 30–33
Structural sources, 30–31
Structuralist approach to social capital, 31–32
Subsidies, 11–12, 144, 146
subsidy linked schemes, 129
subsidy-linked insurance schemes, 131–132
Sukanya Smridhi scheme, 5–7
Supply-factors, 54–55
Supply-side barriers, 137–141
Supply-side factors, 54–55
Sustainable Development Goal (SDG), 2–3, 14–15, 149–150, 152
case study of Kuttanad, Kerala, 153–154
case study of women community group, 151
climate change, 152–154
human rights approach to, 154–157
indigenous people’s right to self-determination, 152–153
poverty reduction, 144–147
right to health and social security, 147–149
women empowerment and gender equality, 149–151
‘Swachh Bharat Mission’, 147–148
Swarn Jayanti Gram Swarozgar Yojana (SGSY), 148–149, 163–164
Synthetic products, 54
Technological identity, 73
Technology, 76, 81, 96
difference between technology users and non-users, 73–74
reforming E-government through, 102–108
social factors role in adoption of, 73
use of technology by financial institutions, 106–107
Transaction cost, 166
Transparency, 180
Treasury Bills, 55, 57
UN Framework Convention on Climate Change (UNFCCC), 155
Unified Payment Interface (UPI), 70–71, 111–112
Unique Identification Number (UID), 62–63, 107–108
Unique Payment Identification (UPI), 96–97, 108
United Nations (UN), 14, 144
UN Development Group, 144
UN SDGs, 15, 144, 146
UN sustainable development goals and role of Indian Government, 61–62
United Nations Economics and Social Council (1988), 3–4
Universal Declaration of Human Rights, 147–148
Unstructured Supplementary Service Data (USSD), 96–97
Valuable, inimitable and rare organisational resources (VRIO resources), 38, 88–89
Value creation, 54–55
and role of financial intermediaries, 54
Vedas, 8–9
Vienna Convention, 152
Village community of Meghalaya, 23–24
Water harvesting, 127
Welfare system, inequalities within, 174–175
Welfarist state policy, 144–146
Women community group, case study of, 151
Women empowerment, 124, 184, 187
and gender equality, 149–151
government action for, 157
poverty reduction and, 5–7
World Bank, The, 2–4, 25, 95–96
World Trade Organization (WTO), 95–96
Zero Hunger, 14
Office of the High Commissioner for Human Rights, The, 144
Online applications, 96–97
Oolay (earrings of Paniya tribe), 33–34
Opportunity Cost Principle, 182
Organisational agility, 76–81
Organisations, example of social capital in, 34
Organised farmers, 131
Organizational agility, 76–81
Paadi (house of Paniya Tribe), 33
Panchayati Raj Institution, 184–187
Paniya Tribe, example of social capital in, 33–34
Paradox of moral hazard in group lending scenario, 26–27
Pareto optimalityof poverty, 163–164
‘Paris Agreement’, 152
Paris Convention, The, 152
Payment Banks, 108
in India, 112–113
Peer pressure, 25
Performance incentives, lack of, 173
Personal Identification Number (PIN), 102
Phishing, 140–141
Piloting and Mainstreaming of SHG Movement in (1992–1996), 25
Pire (house of Paniya), 33
Planning process, 176
Point of Sales (PoS), 75
Policy
ecosystem, 108
financial inclusion policy factors, 63–64
framework for digital inclusion, 70–71
Positive externalities, 165
Post-Washington consensus’, 19–20
Poverty, 2–3, 5, 7, 24, 158, 173–174
bedrock of, 5–7
case study on poverty reduction in Akodara Village, Gujarat, 146–147
digitisation and modernisation of Ghazipur Mandi, 13–14
dimensions of, 15
factors of constitutive relevance, 7–10
factors of instrumental importance, 10–14
impact of financial inclusion, 10–12
government action for, 155–156
handicraft industry in Nepal, 2
importance of capacity building, 19
paradigms of, 2
Pareto optimality and social evil of, 163–164
poverty reduction and women empowerment, 5–7
reduction, 144–147
under SBLP, 25–27
strategies for poverty reduction, 18–19
SDG and, 14–15
trade-off between profitability and social objectives, 12–13
Pradhan Mantri Awas Yojana, 155–156
Pradhan Mantri Fasal Bima Yojana, 128
Pradhan Mantri Gram Sadak Yojana, 155–156
Pradhan Mantri Gramin Digital Saksharta Abhiyaan (PMDISHA), 63–64
Pradhan Mantri Jan Dhan Yojana (PMJDY), 61–62, 71, 74–76, 86, 90, 102, 106–108, 119–120, 139, 156
social perspective, 119–120
Pradhan Mantri Jeevan Beema Yojana (PMJBY), 147–148
Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), 156–157
Pradhan Mantri Ujjwala Yojana (PMUY), 157
Pre-paid instruments (PPI), 108–111
Price Support Scheme, 127–128
Primary Agriculture Cooperatives (PACs), 129, 131
Prime Minister’s Employment Generation Programme (PMEGP), 157
Producer Companies, 131
Public Distribution System (PDS), 148–149, 162–163
Public Private Partnership (PPP), 151–152
Racism, 7–8
Rangarajan Committee, 2–3
Ransomware, 140
Rape, 5–7
Rashtriya Krishak Vikas Yojana, 127
Rashtriya Swasthya Bima Yojana (RSBY), 148–149
Real Time Gross Settlements (RTGS), 75
Regional Rural Banks (RRBs), 129, 139
Relational poverty, 8–10
Relational social capital, 30–32
Religious activities, 164
Reserve Bank of India (RBI), 10–11, 57, 60, 70–71, 108, 114, 131, 139
Resource-based view (RBV), 38, 86, 88
Resources, 39
Responsibility, 144–146
Return on investment (ROI), 12–13, 88, 175
Rig Veda, 8–9
Right to education, 149–150
Right to Health and Social Security, 147–149
Rio Declaration (1992), 154–155
Risk management technology, 106–107
RuPAY, 108
Rural agricultural finance, particular focus on, 124–125
Saltwater barrier, 154
Sarv Shiksha Abhiyaan (SSA), 163–164
Savings groups for poverty alleviation in Rajasthan, 25
SBLP, poverty and social contract under, 25–27
Scale of Finance (SOF), 129–130
Securities and Contracts Regulations Act (1956), 57–58
Securities and Exchange Board of India (SEBI), 57–58, 122, 136
SEBI Act (1992), 57–58
Self Finance Group, 184–187
Self-determination, indigenous people’s right to, 152–153
Self-Help Group (SHG), 25–27, 36–37, 43–44, 125, 166, 168
borrowings from, 132–133
case study of SHG in India, 35–36
externalities of, 166–168
linkage, 132–133
linkage programme, 25
Rehman and self-help promoting institute helping to form, 143–144
SHG bank linkage programme, 84–88
social perspective, 143–144
technology acceptance model, 86–88
Self-Help Group Bank Linkage Program (SBLP), 24, 44–45, 132–133
Self-Help Promoting Institution (SHPI), 31–32, 143–144
Rehman and SHPI helping to form self-help groups, 143–144
Semi-formal group lending, 123
Sericulture, 127
Shock therapy-based neoliberalism, 19–20
Shyama Prasad Mukherjee Rural Urban Mission (SPMRM), 155–156
Sikhism, 9
Simple, Moral, Accountable, Responsive, and Transparent (SMART), 105
Skill Development Programme, 155–156
Social activities, 162–163
Social benefit analysis, 182–184
principle to determine benefit of social project, 182–184
Social capital, 40–41, 88–89, 115–116
case study of Banswara Village, 27
case study of Dhokra Community in India, 32–33
case study of self-help group in India, 35–36
community, 39–41
community organisations, 41
in context of microfinance in India, 36–38
dimensions of social capital, 32–33
example of social capital in organisations, 34
example of social capital in Paniya Tribe, 33–34
flower industry and village community of Meghalaya, 23–24
and information flow through networks, 35–36
MAC Society, 42–43
metaphor of capital, 30–31
paradox of moral hazard in group lending scenario, 26–27
poverty and social contract under SBLP, 25–27
principles of Community Organisations, 41–44
role of social capital as collateral, 27–30
self-help group, 43–44
self-help group linkage programme, 25
social capital and exchange, 33–34
social organisation and role in promoting social capital, 38–39
social perspective, 23–24
structuralist approach to social capital, 31–32
systems view of, 28–30
Social Cohesion, 16, 25–26
Social contract, 25–26, 37–38
under SBLP, 25–27
Social costs, 165
measures tomitigate, 178–179
Social development process, 133–134
Social discrimination, 158
Social environment, 71–73
Social evil of poverty, 163–164
Social exclusion, 5, 7–8
Social factors role in adoption of technology, 73
‘Social injustice’, 2–3
Social innovation, 84–88
Social intermediation, 64–65
Social mobility, 16
Social networks, 71–73
Social organisations, 88–89
and role in promoting social capital, 38–39
Social planning, 176–179
challenges to social policy, 176–177
measures to mitigate social costs, 178–179
role of social policy in social, 178
Social policy, 176
challenges to, 176–177
for developmental projects, 170–171
role in social, 178
Social projects, 180–182
digitization of social project evaluation, 184–187
principle to determine benefit of, 182–184
Social protection schemes, 147–149
Social scheme, 144, 146, 161–162
Social security
case study of initiatives in domain of, 148–149
Government action for, 156–157
Social structure, 162–163
Social systems, 174–175
Social values, principle of, 179–180
Social welfare, 163–164, 176, 179, 182–183
activities, 162–163
approaches to, 169–171
basic principles of, 164
challenges to, 171–175
challenges to social policy, 176–177
changes, 162–163
of citizens, 162–163
forest rights case study Koska Village, 169–170
measures to mitigate social costs, 178–179
programmes, 164–165
role of social policy in social, 178
schemes, 5, 7, 162–163
social policy for developmental projects, 170–171
Soil harvesting, 127
Spoofing, 141
SRLM, 184–187
Stakeholders, 179–180
in financial system, 51–59
inclusive money markets in India, 57–58
major financial intermediaries in Indian financial system, 58–59
nature of markets and role of financial intermediaries, 54
role of financial intermediary in economy, 53–54
supply-side factors, 54–55
value creation and role of financial intermediaries, 54
State Cooperative Banks (SCBs), 129
State Service Delivery Gateway (SSDG), 64
State Wide Area Network (SWAN), 64
Stockholm Declaration (1972), 154–155
Structural factors, financial inclusion, 63–64
Structural social capital, 30–33
Structural sources, 30–31
Structuralist approach to social capital, 31–32
Subsidies, 11–12, 144, 146
subsidy linked schemes, 129
subsidy-linked insurance schemes, 131–132
Sukanya Smridhi scheme, 5–7
Supply-factors, 54–55
Supply-side barriers, 137–141
Supply-side factors, 54–55
Sustainable Development Goal (SDG), 2–3, 14–15, 149–150, 152
case study of Kuttanad, Kerala, 153–154
case study of women community group, 151
climate change, 152–154
human rights approach to, 154–157
indigenous people’s right to self-determination, 152–153
poverty reduction, 144–147
right to health and social security, 147–149
women empowerment and gender equality, 149–151
‘Swachh Bharat Mission’, 147–148
Swarn Jayanti Gram Swarozgar Yojana (SGSY), 148–149, 163–164
Synthetic products, 54
Technological identity, 73
Technology, 76, 81, 96
difference between technology users and non-users, 73–74
reforming E-government through, 102–108
social factors role in adoption of, 73
use of technology by financial institutions, 106–107
Transaction cost, 166
Transparency, 180
Treasury Bills, 55, 57
UN Framework Convention on Climate Change (UNFCCC), 155
Unified Payment Interface (UPI), 70–71, 111–112
Unique Identification Number (UID), 62–63, 107–108
Unique Payment Identification (UPI), 96–97, 108
United Nations (UN), 14, 144
UN Development Group, 144
UN SDGs, 15, 144, 146
UN sustainable development goals and role of Indian Government, 61–62
United Nations Economics and Social Council (1988), 3–4
Universal Declaration of Human Rights, 147–148
Unstructured Supplementary Service Data (USSD), 96–97
Valuable, inimitable and rare organisational resources (VRIO resources), 38, 88–89
Value creation, 54–55
and role of financial intermediaries, 54
Vedas, 8–9
Vienna Convention, 152
Village community of Meghalaya, 23–24
Water harvesting, 127
Welfare system, inequalities within, 174–175
Welfarist state policy, 144–146
Women community group, case study of, 151
Women empowerment, 124, 184, 187
and gender equality, 149–151
government action for, 157
poverty reduction and, 5–7
World Bank, The, 2–4, 25, 95–96
World Trade Organization (WTO), 95–96
Zero Hunger, 14
Racism, 7–8
Rangarajan Committee, 2–3
Ransomware, 140
Rape, 5–7
Rashtriya Krishak Vikas Yojana, 127
Rashtriya Swasthya Bima Yojana (RSBY), 148–149
Real Time Gross Settlements (RTGS), 75
Regional Rural Banks (RRBs), 129, 139
Relational poverty, 8–10
Relational social capital, 30–32
Religious activities, 164
Reserve Bank of India (RBI), 10–11, 57, 60, 70–71, 108, 114, 131, 139
Resource-based view (RBV), 38, 86, 88
Resources, 39
Responsibility, 144–146
Return on investment (ROI), 12–13, 88, 175
Rig Veda, 8–9
Right to education, 149–150
Right to Health and Social Security, 147–149
Rio Declaration (1992), 154–155
Risk management technology, 106–107
RuPAY, 108
Rural agricultural finance, particular focus on, 124–125
Saltwater barrier, 154
Sarv Shiksha Abhiyaan (SSA), 163–164
Savings groups for poverty alleviation in Rajasthan, 25
SBLP, poverty and social contract under, 25–27
Scale of Finance (SOF), 129–130
Securities and Contracts Regulations Act (1956), 57–58
Securities and Exchange Board of India (SEBI), 57–58, 122, 136
SEBI Act (1992), 57–58
Self Finance Group, 184–187
Self-determination, indigenous people’s right to, 152–153
Self-Help Group (SHG), 25–27, 36–37, 43–44, 125, 166, 168
borrowings from, 132–133
case study of SHG in India, 35–36
externalities of, 166–168
linkage, 132–133
linkage programme, 25
Rehman and self-help promoting institute helping to form, 143–144
SHG bank linkage programme, 84–88
social perspective, 143–144
technology acceptance model, 86–88
Self-Help Group Bank Linkage Program (SBLP), 24, 44–45, 132–133
Self-Help Promoting Institution (SHPI), 31–32, 143–144
Rehman and SHPI helping to form self-help groups, 143–144
Semi-formal group lending, 123
Sericulture, 127
Shock therapy-based neoliberalism, 19–20
Shyama Prasad Mukherjee Rural Urban Mission (SPMRM), 155–156
Sikhism, 9
Simple, Moral, Accountable, Responsive, and Transparent (SMART), 105
Skill Development Programme, 155–156
Social activities, 162–163
Social benefit analysis, 182–184
principle to determine benefit of social project, 182–184
Social capital, 40–41, 88–89, 115–116
case study of Banswara Village, 27
case study of Dhokra Community in India, 32–33
case study of self-help group in India, 35–36
community, 39–41
community organisations, 41
in context of microfinance in India, 36–38
dimensions of social capital, 32–33
example of social capital in organisations, 34
example of social capital in Paniya Tribe, 33–34
flower industry and village community of Meghalaya, 23–24
and information flow through networks, 35–36
MAC Society, 42–43
metaphor of capital, 30–31
paradox of moral hazard in group lending scenario, 26–27
poverty and social contract under SBLP, 25–27
principles of Community Organisations, 41–44
role of social capital as collateral, 27–30
self-help group, 43–44
self-help group linkage programme, 25
social capital and exchange, 33–34
social organisation and role in promoting social capital, 38–39
social perspective, 23–24
structuralist approach to social capital, 31–32
systems view of, 28–30
Social Cohesion, 16, 25–26
Social contract, 25–26, 37–38
under SBLP, 25–27
Social costs, 165
measures tomitigate, 178–179
Social development process, 133–134
Social discrimination, 158
Social environment, 71–73
Social evil of poverty, 163–164
Social exclusion, 5, 7–8
Social factors role in adoption of technology, 73
‘Social injustice’, 2–3
Social innovation, 84–88
Social intermediation, 64–65
Social mobility, 16
Social networks, 71–73
Social organisations, 88–89
and role in promoting social capital, 38–39
Social planning, 176–179
challenges to social policy, 176–177
measures to mitigate social costs, 178–179
role of social policy in social, 178
Social policy, 176
challenges to, 176–177
for developmental projects, 170–171
role in social, 178
Social projects, 180–182
digitization of social project evaluation, 184–187
principle to determine benefit of, 182–184
Social protection schemes, 147–149
Social scheme, 144, 146, 161–162
Social security
case study of initiatives in domain of, 148–149
Government action for, 156–157
Social structure, 162–163
Social systems, 174–175
Social values, principle of, 179–180
Social welfare, 163–164, 176, 179, 182–183
activities, 162–163
approaches to, 169–171
basic principles of, 164
challenges to, 171–175
challenges to social policy, 176–177
changes, 162–163
of citizens, 162–163
forest rights case study Koska Village, 169–170
measures to mitigate social costs, 178–179
programmes, 164–165
role of social policy in social, 178
schemes, 5, 7, 162–163
social policy for developmental projects, 170–171
Soil harvesting, 127
Spoofing, 141
SRLM, 184–187
Stakeholders, 179–180
in financial system, 51–59
inclusive money markets in India, 57–58
major financial intermediaries in Indian financial system, 58–59
nature of markets and role of financial intermediaries, 54
role of financial intermediary in economy, 53–54
supply-side factors, 54–55
value creation and role of financial intermediaries, 54
State Cooperative Banks (SCBs), 129
State Service Delivery Gateway (SSDG), 64
State Wide Area Network (SWAN), 64
Stockholm Declaration (1972), 154–155
Structural factors, financial inclusion, 63–64
Structural social capital, 30–33
Structural sources, 30–31
Structuralist approach to social capital, 31–32
Subsidies, 11–12, 144, 146
subsidy linked schemes, 129
subsidy-linked insurance schemes, 131–132
Sukanya Smridhi scheme, 5–7
Supply-factors, 54–55
Supply-side barriers, 137–141
Supply-side factors, 54–55
Sustainable Development Goal (SDG), 2–3, 14–15, 149–150, 152
case study of Kuttanad, Kerala, 153–154
case study of women community group, 151
climate change, 152–154
human rights approach to, 154–157
indigenous people’s right to self-determination, 152–153
poverty reduction, 144–147
right to health and social security, 147–149
women empowerment and gender equality, 149–151
‘Swachh Bharat Mission’, 147–148
Swarn Jayanti Gram Swarozgar Yojana (SGSY), 148–149, 163–164
Synthetic products, 54
Technological identity, 73
Technology, 76, 81, 96
difference between technology users and non-users, 73–74
reforming E-government through, 102–108
social factors role in adoption of, 73
use of technology by financial institutions, 106–107
Transaction cost, 166
Transparency, 180
Treasury Bills, 55, 57
UN Framework Convention on Climate Change (UNFCCC), 155
Unified Payment Interface (UPI), 70–71, 111–112
Unique Identification Number (UID), 62–63, 107–108
Unique Payment Identification (UPI), 96–97, 108
United Nations (UN), 14, 144
UN Development Group, 144
UN SDGs, 15, 144, 146
UN sustainable development goals and role of Indian Government, 61–62
United Nations Economics and Social Council (1988), 3–4
Universal Declaration of Human Rights, 147–148
Unstructured Supplementary Service Data (USSD), 96–97
Valuable, inimitable and rare organisational resources (VRIO resources), 38, 88–89
Value creation, 54–55
and role of financial intermediaries, 54
Vedas, 8–9
Vienna Convention, 152
Village community of Meghalaya, 23–24
Water harvesting, 127
Welfare system, inequalities within, 174–175
Welfarist state policy, 144–146
Women community group, case study of, 151
Women empowerment, 124, 184, 187
and gender equality, 149–151
government action for, 157
poverty reduction and, 5–7
World Bank, The, 2–4, 25, 95–96
World Trade Organization (WTO), 95–96
Zero Hunger, 14
Technological identity, 73
Technology, 76, 81, 96
difference between technology users and non-users, 73–74
reforming E-government through, 102–108
social factors role in adoption of, 73
use of technology by financial institutions, 106–107
Transaction cost, 166
Transparency, 180
Treasury Bills, 55, 57
UN Framework Convention on Climate Change (UNFCCC), 155
Unified Payment Interface (UPI), 70–71, 111–112
Unique Identification Number (UID), 62–63, 107–108
Unique Payment Identification (UPI), 96–97, 108
United Nations (UN), 14, 144
UN Development Group, 144
UN SDGs, 15, 144, 146
UN sustainable development goals and role of Indian Government, 61–62
United Nations Economics and Social Council (1988), 3–4
Universal Declaration of Human Rights, 147–148
Unstructured Supplementary Service Data (USSD), 96–97
Valuable, inimitable and rare organisational resources (VRIO resources), 38, 88–89
Value creation, 54–55
and role of financial intermediaries, 54
Vedas, 8–9
Vienna Convention, 152
Village community of Meghalaya, 23–24
Water harvesting, 127
Welfare system, inequalities within, 174–175
Welfarist state policy, 144–146
Women community group, case study of, 151
Women empowerment, 124, 184, 187
and gender equality, 149–151
government action for, 157
poverty reduction and, 5–7
World Bank, The, 2–4, 25, 95–96
World Trade Organization (WTO), 95–96
Zero Hunger, 14
Valuable, inimitable and rare organisational resources (VRIO resources), 38, 88–89
Value creation, 54–55
and role of financial intermediaries, 54
Vedas, 8–9
Vienna Convention, 152
Village community of Meghalaya, 23–24
Water harvesting, 127
Welfare system, inequalities within, 174–175
Welfarist state policy, 144–146
Women community group, case study of, 151
Women empowerment, 124, 184, 187
and gender equality, 149–151
government action for, 157
poverty reduction and, 5–7
World Bank, The, 2–4, 25, 95–96
World Trade Organization (WTO), 95–96
Zero Hunger, 14
Zero Hunger, 14
- Prelims
- Chapter 1 Poverty in Emerging Economies
- Chapter 2 Social Capital as a Key to Sharing Prosperity
- Chapter 3 Inclusive Financial System in India
- Chapter 4 Digital Financial System
- Chapter 5 Cashless Financial Systems
- Chapter 6 Priority in Inclusive Finance
- Chapter 7 Ensuring Justice and Human Rights
- Chapter 8 Role of Government to Ensure Economic and Social Welfare
- Index