India trails countries like Kenya, South Africa and Brazil in financial inclusion

Economic Times

Content from the Brookings Institution India Center is now archived. After seven years of an impactful partnership, as of September 11, 2020, Brookings India is now the Centre for Social and Economic Progress, an independent public policy institution based in India.

Naina_Lal_KidwaiChairperson (India) and director, HSBC Asia Pacific, Naina Lal Kidwai, writes a blog for the Economic Times on the 2015 Brookings Financial and Digital Inclusion Project report which ranked India ninth among 21 countries in financial and digital inclusion efforts. The ranking was based on four dimensions of financial inclusion: country commitment, mobile capacity, regulatory environment, and adoption of traditional and digital financial services.

Read the India focus of the report here
Download the full report here

India trails countries like Kenya, South Africa and Brazil. The silver lining is that the government is committed to inclusive growth where financial inclusion plays a crucial role in helping provide numerous benefits through the strengthening of the banking system, better access to financial resources and transparent governance.