Financial Inclusion

2 Indian Demographics Population demographics APL (71%) BPL(29 %) Mobile subscriber penetration has reached 80% of population 970mn Aadhaar card holders in India(Unique identification) Various pension schemes and host of government services linked to Aadhaar Total population of India-1250mn

3 Financial Inclusion schemes launched by Government of India recently Jan-Dhan yojana No. of accounts opened:190mn primarily led by public sector banks Universal access to banking Initiative to move towards cashless economy Channelling all government benefits to beneficiaries accounts PMJDYPMSBY Personal accident cover of $2985 Age group:18 to 70 years Premium: $0.17 Premium collected through facility of “auto-debit” from bank Accidental Insurance worth $2985 at at just $0.17 per annum

4 4 Aadhaar is Unique ID allotted to citizen of India and valid form of KYC Features Paperless Consent based Eliminates Document Forgery Secure and compliant with the IT Act Low cost Aadhaar issued to 77% of Indian population Unique ID scheme

5 RSBY – Smart card based Health Insurance RSBY Scheme National Health Benefit Scheme BPL families eligible for this government scheme Family of 5 eligible for health insurance worth $ 447 per annum Benefits Cashless and Paperless Low Premium Payment $ 0.4 per family Beneficiary can get treatment from any of the empanelled public or private hospitals, across India Secure and Foolproof Over The Counter

6 Cards issued – App. 40 mn People enrolled – App. 126 mn Number of People benefitted till now – 10.6 mn Number of Hospitals Empanelled – States where Service delivery has started – 29 Number of Insurance Companies Involved – 16 Current status : RSBY in India

7 Enrolment Process through Images Enrollment stations with Required Hardware are set up Necessary Data Search OTC Delivery of cardAuthentication by government official Photographs Taken Biometrics Captured Process takes around 6 to 8 Minutes

8 Use of technology to increase farmer’s coverage in crop insurance TAB based enrolment Objective : Technology based farmer enrolment Benefits: Real time issuance of Cover Notes to the farmers Farmer identification through photograph Auto archiving of documents in soft format Minimization of data entry error Geo tagging is possible

9 SME Opportunity Contributing ~37% to GDP (FY2013) Asset value ~`13,637 bn Over 100 mn people employed Medium Small Micro Unregistered.02% 4.7% 95% Organized Unorganized Micro = upto 0.05mn, Small = upto 15 Mn & Medium beyond 15 Mn asset size Insurance market size ICICI Lombard market $1404 mn $53mn

10 Progress in financial Inclusion in India Scheme NameScheme type No. of individual Enrolled (in mn) PMJJBYLife Insurance29 PMSBYPersonal Accident 93 APYPension2 AadhaarUIN970 PMFBYCrop insurance200

11 Thanks

12 JAM Aadhaar Banks Account Internet connectivity Smart phones Multiple initiatives to facilitate financial inclusion of the Indian citizen “Jan-dhan Aadhaar-Mobile” Leveraging the Power of JAM: Jan Dhan, Aadhaar and Mobile Emerging Eco System

13 How does e-KYC work for banking& Insurance Agent approaches customer with HHT/Tablet Authentication through Fingerprint / OTP captured by HHT/Tablet e-KYC data fetched from UIDAI repository Customer provides 12 digit Aadhaar Number Verifies Customer KYC details and captures other product specific data Captured details uploaded to Bank Server Account Opened in CBS and intimation is given back to Customer OR

14 Enrolments under various schemes % 53% 95% In India, bank account penetration increased from 35% to 95% Additionally,190m n bank accounts opened since August 2014 Scheme NameCount of Enrolment(in mn) PMJJBY29.4 PMSBY93.3 APY1.97 Total % RuralUrban 31.32% 20.59% 17.66% Female Male Rural & Urban Segmentation Insurance & Pension Scheme