Financial Inclusion in India
India, one of the fastest-growing major economies of the world, is climbing up the ranks of nominal GDP beating country after country. One of the most attractive markets for financial services providers with the global banks investing in developing infrastructure, but the question remains is everyone benefiting from the growing access to the financial services or for simplicity's sake, banks. Let's find out in this blog. What it is and What it Means for India: Investopedia defines financial inclusion as "Financial inclusion is the pursuit of making financial services accessible at affordable costs to all individuals and businesses," which pretty much covers all the aspects of it. However, there is more to add on only increasing access to financial services won't help it would be beneficial only when benefits of the facilities are aware of what is being offered so that they can make appropriate choices. Increased Financial Access and its benefits: ...