With the recent Jan Dhan Yojana initiative, most of the households now have a bank account.
However a range of unfavourable factors continue to restrict financial inclusion of certain sections of society, especially the differently abled.
What is the status of differently abled?
Disability refers to an individual who lacks abilities to perform an activity in the manner or within the range considered normal for a human being.
The country has about 2.7 Crore people categorised as Persons with Disability (PwD).
This mainly comprises of people with blindness, low vision, hearing impairment, locomotor disability, mental challenges and mental illness.
Those with locomotor disability account for the largest share (20%) amongst the differently abled followed by those with visual and hearing disability.
Nearly 69% of PwDs stay in rural areas.
Only 1/3rd of this differently abled population are working out of which 31% are in agriculture.
ILO claimed that around 75% of PwDs in India are still outside theworkforce.
PwDs account for only 0.5% of total workforce in the organised sector.
How can inclusion be achieved?
Factors such as lack of awareness, poverty, low income, illiteracy, unemployment and inadequate branch network continue to restrict financial inclusion of certain sections.
Majority of the financial services including banks do not take a favourable approach in providing financial support to the differently abled.
Design and Technology - Banking services should be made accessible for the nearly 3 Crore special needs population.
The RBI guidelines to banks in this regard include directions -
to provide cheque books, ATM and locker facilities to the visually challenged.
to provide for ramp facilities and tactile keypad at ATMs.
to not deny services on grounds of possible risk in operation of banking facilities .
International practices - Multiple formats of information like audio output, braille documents, larger font size, larger screens, images with text description, low tables, specialised, and privacy standards during banking operation can be adopted.
Assistance - In view of the diversity in the issues faced as well as types of disabilities, including the elderly people, a multi-spectral approach to ensure financial inclusion is required.
Government needs to consider providing financial assistance and assistive equipment to PwDs and their families to meet out various expenses.
Employment - Government can also consider incentivising private sector to encourage recruitment of PwDs.
Training the service providers, including banks and sensitising the general population of the special needs of PwDs so as to bridge the cultural gap in employing them would be beneficial.
Governments and welfare-oriented institutions should share the responsibility of providing the differently abled a dignified life.
