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, may be one year or so, only. In spite of it, Life Insurance Company can pay the lump sum amount until the maturity period of the policy which is quite long. Another grey area being that premium receipts will comprise two components for life as well as non-life insurance companies separately. The question arises what will be the mode of payment of the premium to both the companies in the case of a combo product. One thing is clear that the life insurance company will act as a lead in this case, but even then the question of sharing.

This also has a very powerful social impact as access to education provides people with knowledge of happening outside their daily lives, and this opens up new scenarios and ambitions within them.

Microfinance is an area which is arguably most dependent on technology in order to be effective in terms of provision of services to the target audience, and in a cost effective and operational efficient manner. It is also an area where sustainability and outreach are both extremely important, i.e. if either of these qualities iscompromised, it would have a negative effect on all initiatives and as a result, on the economy.

Standardisation challenges in technology also exist, for e.g. bearing KYC rules and regulations in mind, should mobile phones should be used as a primary identifier or whether it should be smart cards that can be read by a smart card reader and cross-checked through biometric authentication. In addition, whichever technology is used, it has to be transparent to the end-customers, so that it builds a high level of confidence within them and encourages them to switch over from the local money-lender to an MFI. (World bank, 2010)

While the sustainability v/s outreach challenges still exists when it comes to reaching out to people in remote areas, or to people with low economic and social status, technology is continuously evolving, and is today available to circumvent and/or address these challenges and enable MFIs to further their positive impact on society. (World bank, 2010)

Insightful glimpses of Rural India

Rural India is the real bull's eye of the Indian growth story.

Rural India accounts for 70% of population, 56% of income, 64% of expenditure and 33% of India's savings. Also, it accounts for 60% of FMCG sales, 50% of TV set sales, and 40% of two-wheeler sales.

Despite urbanization, 65% of India's population would continue to live in villages. Proper roads now connect 80% of Rural India, which accounts for 90% of the rural population and 95% of rural wealth. Tele-density has improved from 5% to 21% in five years and is expected to go up to 50% by 2012. Almost all villages now have electricity; 60% of rural households (70% of rural wealth) have electricity. At present, 70% of the rural population is literate; by 2020, there would be ~100% literacy. There are ~87 million Kisan Credit Cards in rural India, which is larger than all the debit and credit cards of Urban India. (Credit Suisse, 2010)

At present, 45% in Rural India earn more than US$1/day - the figure is expected to go up to 58% in 2020. In Rural India, the seemingly low income of US$2-3/day is actually high, as there is no 本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。