Recently, the Reserve Bank of India Governor released the National Strategy for Financial Inclusion (NSFI) 2025-30.

About National Strategy for Financial Inclusion (NSFI)

• The National Strategy for Financial Inclusion (NSFI) is a strategic policy framework prepared by the RBI in collaboration with major financial-sector regulators.
• It aims to ensure universal access to financial services, deepening of financial inclusion, and financial literacy across India

Core Vision of NSFI 2025–30

• Ecosystem Approach: The strategy emphasises a synergistic, whole-of-ecosystem model to improve quality, consistency and last-mile delivery of financial services.
• Effective Usage: It focuses not just on access, but on sustained, productive usage of financial services by households and micro-enterprises.
• The strategy outlines five key goals, referred to as Panch Jyoti, supported by 47 specific action points to strengthen financial inclusion.

Panch-Jyoti: Five Strategic Pillars of NSFI 2025–30

• Universal Access to Affordable Financial Services:
  • This Pillar underscores the equitable access to savings, credit, insurance, pensions, and payment systems tailored for households and micro-enterprises.
  • Focus on Quality: Priority on financial safety, risk protection, and long-term economic security.
• Gender-Sensitive and Resilience-Focused Inclusion
  • Prioritises women-led inclusion through tailored products, gender-responsive access, and targeted literacy.
  • The Strategy also strengthens resilience of vulnerable communities by enhancing their financial resilience and shock-absorbing capacity.
• Integration of Livelihoods, Skills, and Inclusion
  • The third pillar connects financial services with skill development and livelihood programmes.
  • The strategy aims to Enhances entrepreneurship, employability, and sustainable income mobility.
• Financial Education as Behavioural Transformation
  • The Strategy focuses on financial literacy that promotes savings discipline, responsible credit use, insurance uptake, and prudent financial planning.
  • This includes special outreach for first-time users, youth, and micro-entrepreneurs.
• Strong Consumer Protection and Grievance Redressal
  • Strengthen customer confidence through robust grievance mechanisms, data protection, and transparent practices.
  • This Pillar is critical as digital payments expand across rural and semi-urban regions.

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