Financial Inclusion as an Essential Tool to Social Equity
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FINANCIAL INCLUSION AS AN ESSENTIAL TOOL TO SOCIAL EQUITY – A HUMAN RIGHTS PERSPECTIVE ABSTRACT Human rights are universal. They are the necessary precondition to the exercise of the right to live with dignity of every individual in this world. Human rights is a generic term denoting: a) The traditional civil and political rights b) The economic, social and cultural rights which is gaining prominence lately c) The rights of the ‘vulnerable groups’ and other such rights. In 1993 the World Conference on Human Rights highlighted that poverty and social exclusion constituted a violation of human dignity. A concrete perspective of human rights especially in Asian countries envisages an accent on economic, social and cultural rights over the other rights. Rights alone are not enough to transform the social conditions. To change the conditions and give people a dose of control over their lives, the access of vulnerable population to vital resources is essential. In this background, financial inclusion could well be the harbinger of social cohesion and an ideal tool to reduce poverty and redress the socio-economic inequalities of todays’ world. This paper looks at the efforts taken towards financial inclusion and
Financial Inclusion as an Essential Tool to Social Equity
Financial inclusion is the key to social cohesion and poverty reduction
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FINANCIAL INCLUSION AS AN ESSENTIAL TOOL TO SOCIAL EQUITY A
HUMAN RIGHTS PERSPECTIVE
ABSTRACT
Human rights are universal. They are the necessary precondition
to the exercise of the right to live with dignity of every
individual in this world. Human rights is a generic term denoting:
a)The traditional civil and political rightsb)The economic, social
and cultural rights which is gaining prominence latelyc)The rights
of the vulnerable groups and other such rights. In 1993 the World
Conference on Human Rights highlighted that poverty and social
exclusion constituted a violation of human dignity. A concrete
perspective of human rights especially in Asian countries envisages
an accent on economic, social and cultural rights over the other
rights. Rights alone are not enough to transform the social
conditions. To change the conditions and give people a dose of
control over their lives, the access of vulnerable population to
vital resources is essential. In this background, financial
inclusion could well be the harbinger of social cohesion and an
ideal tool to reduce poverty and redress the socio-economic
inequalities of todays world. This paper looks at the efforts taken
towards financial inclusion and progress made by the various
agencies of the Government of India.
