SOCIAL PROTECTION FOR CHILDREN AND THEIR FAMILIES ROLE OF FINANCIAL INCLUSION Presentation by Dr. Tushar Rane, Chief, UNICEF Assam

DEFINITION OF SOCIAL PROTECTION Policies and programmes aimed at reducing the economic and social vulnerabilities of children, women and families, in order to ensure their access to a decent standard of living and essential services. To overcome financial and social barriers to accessing services In simple terms: Social protection measures like cash transfers, health insurance or subsidies help people bridge the gap so that they can access food, shelter, clothing, health and education services, water and sanitation. Measures like school meals and transportation subsidies help overcome financial and social barriers to accessing services. And policies to counter discrimination and promote equity create an environment that increases both access and opportunity. BREAKING INTER-GENERATIONAL POVERTY CYCLE

TYPES OF INSTRUMENTS FOR SOCIAL PROTECTION JSY PDS Kerosene subsidy Removal of school fees for girls RSBY Examples from India Foster care schemes NREGA

NEED FOR AN INTEGRATED SOCIAL PROTECTION SYSTEM IN INDIA Systems Multi-Sector Integrated Social Protection System Integrated SP systems • Address both social and economic vulnerabilities • Provide a comprehensive set of interventions • Go beyond risk management interventions and safety nets: address structural as well as shock‐related vulnerabilities • Facilitate a multi‐sector approach and coordination • Coordinate with appropriate supply‐side investments • Frame social protection strategies within a broader set of social and economic policies that promote human development and growth. A systems-approach develops and strengthens the structures and mechanisms that facilitate integration of a network of interventions and policies to address multiple vulnerabilities. Multi-sector: identifying and maximizing linkages between social protection and sector outcomes

Financial Inclusion Insurances Affordable Credit BANK ACCOUNT Affordable Credit Social Protection Benefits Savings Payments & Remittances

Social Protection and Financial Inclusion Social Protection & Financial Inclusion has Complementary impacts on: Preparing poor households to cope with life cycle risks and shocks Reducing rural poverty & Promoting Sustainable livelihoods Providing growth opportunities to individuals and entrepreneurs Rationale for Linkage Growing network of bank branches and emergence of innovative technology Strategically linking Social Protection Programmes with financial inclusion interventions can- 1) Promote Synergies, 2) Economic Multiplier Effects , and 3) Institutional durability of development impact Interlinking SP & FI have crucial impacts on realization of Child Rights and Child Development !!

Steps in Linkage Financial Inclusion limited to using Bank Accounts FI that facilitates delivery of SP Benefits directly into Bank Accounts Bank Account with access to SP Benefits & tailored financial products Integrated FI & SP programming through complex and mutually reinforcing frameworks

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