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At 190 mn, India has second largest unbanked population: World Bank

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New Delhi, April 19 (IANS) About 190 million Indian adults still don’t have a bank account, second only to China, despite the account ownership more than doubling from 35 per cent in 2011 to 80 per cent in 2017, a World Bank report said on Thursday.

The Global Findex Report released on Thursday said there has been a rapid increase in financial inclusion with the number of account holders in the country having risen from 35 per cent of the adults in 2011 and 53 per cent in 2014 to 80 per cent in 2017.

It said at 80 per cent coverage, it was comparable to the number of adults in China who have an account.

However, it added, despite having a relatively high account ownership, India — along with China — claims a large share of the global unbanked population because of its sheer size.

It said while China is home to 225 million adults without a bank account, India has 190 million. They are followed by Pakistan (100 million) and Indonesia (95 million).

“These four economies, together with three others – Nigeria, Mexico and Bangladesh – are home to nearly half the world’s unbanked population,” the report said.

However, it also noted the “dramatically increased account ownership” in India and attributed it to the Jan Dhan Yojana policy which has used biometric identification to expand access to financial services.

The report states that about 51.4 crore accounts have been opened globally from 2014 to 2017.

According to the government data, the total number of Jan Dhan account holders has risen from 28.17 crore in March 2017 to 31.44 crore in March 2018.

The total number of current and savings accounts have risen from 122.3 crore in March 2015 to 157.1 crore in March 2017.

The report also notes the reduced gender gap in ownership by 6 per cent compared to 2014, with 83 per cent men and 77 per cent women now having an account.

–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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