My View on "The challenge of financial inclusion":
One wishes, those who are responsible for taking financial inclusion from ‘word of mouth’ to something that makes an impact on the lives of people who have no representation anywhere because they do not have, as of now, money to go to a bank for opening an account, take Dr Raghuram Rajan’s following quote in this article seriously and do something:
“Simplicity and reliability in financial inclusion in India, though not a cure all, can be a way of liberating the poor from dependence on indifferently delivered public services and from venal politicians,” he said. Further, “in order to draw in the poor, the products should address their needs — a safe place to save, a reliable way to send and receive money, a quick way to borrow in times of need or to escape the clutches of the money lender, easy to understand life and health insurance and an avenue to engage in savings for the old age.”
- M.G.Warrier
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