India ranks behind five African countries in Financial and Digital Inclusion says Brookings study

Tuesday, September 5, 2017

India ranks behind five African countries including Uganda and Nigeria in Financial and Digital Inclusion says a recent study published by the Brookings Institute. While at first glance this may sound disappointing, a closer look at the data reveals great news for Indian companies which are in the financial services and the digital space.
According to the report, India ranks well in three out of four parameters used by the Institute, with the country doing extremely well in parameters relating to the country’s commitment to Financial and Digital Inclusion; and regulatory environment; wherein India has received the highest possible score. The achilles heel seems to be the adoption of services where India scores an abysmal 44%. This is where the Indian companies looking to garner a greater wallet share of the Indian customers are bound to benefit greatly.
Photo courtesy of Maria Andersson.

Source: Financial Express (link opens in a new window)

digital finance, digital payments, financial inclusion, financial services, mobile money