Financial Inclusion of Indigenous Muslims: Sub-committee calls for opinions from community

STAFF REPORTER

GUWAHATI: The Sub-Committee on Financial Inclusion of Indigenous Assamese Muslims has sought opinions, recommendations and suggestions from various stakeholders to prepare a comprehensive report to improve the financial status of the community.

The committee headed by retired IAS officer Nafifa Ahmed has invited suggestions on eight important points for the financial inclusion of the indigenous Assamese Muslims.

Those interested can submit suggestions and recommendations on the policy measures to bring the unbanked members of the Indigenous Assamese Muslim community within the ambit of the formal banking system. The second point is the promotion of saving among low-income households in formal banking institutions.

The third point seeks opinions on State intervention to augment the flow of credit to members of the target community while keeping in mind issues of credit absorption capacity and the peril of over-indebtedness.

The sub-committee has sought recommendations for developing a balance between bank transfer and state subsidies in kind while implementing government welfare schemes.

The sub-committee has also sought suggestions to ensure a fair share for the target community in various government welfare schemes via Direct Benefit Transfer (DBT).

The sub-committee wants a strategy to promote the existing bank account holders' usage of basic financial services and products like debit cards, credit cards, net banking, electronic money transfer, bank account integrated life insurance and health insurance products etc.

It sought the promotion of advanced financial literacy through an awareness programme of the potential of the capital market, especially in alternative avenues of investment like mutual funds, bonds and equities.

The sub-committee seeks recommendations to harness the potentiality in the young members of the target community in finding employment and livelihood in the fast-expanding financial system of India.

Interested persons can send their suggestions, opinions and recommendations to financialinclusion@gmall.com within September 15, 2021.

The Assam Government recently constituted seven sub-groups/committees to give opinions, suggestions and recommendations to bring about overall futuristic development for indigenous Assamese Muslims living in the State.

Also Read: Development of indigenous Muslims: Dispur forms 7 committees

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