Financial Inclusion in India: Social Leveller or Fuel for Growth?

Download the whitepaper to know:

  1. How financial inclusion can trigger economic upliftment across demographics
  2. How banks and NBFCs can join hands with niche fintech players to accelerate financial inclusion
  3. How endemic biases and problems of speed and scale can be solved
  4. digital credit and banking is the way forward for a financially inclusive India
White Paper Illustration
White Paper Illustration

Executive Summary

Financial inclusion has, for far too long, remained confined to corporate social responsibility for Indian banks. This has led to a skewed perception, where financial inclusion is viewed as a social cause and not an economic driving force. India, aiming for a $5-trillion economy by 2025, treads on thin ice if over 190 million adults continue to remain unbanked. The picture grows grimmer as we compare metrics to China – whose bank credit to GDP is six times that of India.

This whitepaper makes a case for why financial inclusion has a far- reaching economic impact. It can threaten or accelerate India’s ascent to an economic superpower. However, systemic problems in the current banking system will require a new approach and technology offers compelling breakthroughs.