Address by Dr. Raghuram Rajan, Governor of the Bank of India, at the Twentieth Lalit Doshi Memorial Lecture, Mumbai, 11 August 2014
.........The broader takeaway is that financial inclusion and direct benefits transfer can be a way of liberating the poor from dependency on indifferently delivered public services, and thus indirectly from the venal but effective politician. It is not a cure-all but will help the poor out of poverty and towards true political independence. But financial inclusion can do more; by liberating the poor and the marginalized from the clutches of the moneylender, by providing credit and advice to the entrepreneurial amongst the poor, and by giving............
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