Indian Finance Minister talks about the Popularization of Microinsurance
IIFL, 12 June 2010
The Finance Minister, Pranab Mukherjee has asked insurance industry to give more focus to generate the required level of awareness about the benefits of insurance to rural people particularly those living in semi-urban and rural areas. They should make all efforts to take the necessary steps to ensure the reach of insurance to general masses.
After the inauguration of the new building of the Insurance Institute of India in Mumbai, he highlights that "one of the main objectives of promoting financial inclusion packages is to economically empower those sections of society which are otherwise denied access to financial services, by providing banking and credit services thereby focusing on bridging the rural credit gap."
"Lack of protective elements may do not serve the objective of promoting financial inclusion packages as the targeted section may fall back into the clutches of poverty in the event of unforeseen contingencies. Hence, to provide a hedge against these unforeseen risks, I would like popularization of microinsurance as one of the essential ingredients of financial inclusion packages."
Read full article
No comments
Add a comment:
|
