Financial inclusion is the key
India's banking system still does not reach a majority of the country's population. The poor do not have bank accounts and continue to depend on moneylenders. Microfinance institutions have made headway with communities and self-help groups of women, but in the absence of policy and a national strategy vast numbers remain left out.
Related Content
- Rwanda economic update, February 2024: mobilizing domestic savings to boost the private sector in Rwanda
- Effective, inclusive and sustainable multilateral actions to tackle climate change, biodiversity loss and pollution
- Djibouti country economic memorandum: Djibouti beyond the ports and bases- a path to prosperity for all
- Somalia economic update: integrating climate change with Somalia’s development- the case for water
- Report of the Comptroller and Auditor General of India on direct benefit transfer in Jharkhand
- Economic report on Africa 2023: building Africa’s resilience to global economic shocks