Thursday
April 26
2018

Why India’s financial inclusion drive may be running out of steam

By Dipti Jain

Among the 10 largest emerging markets in the world, belonging to the G20 group, India today has the highest share of people with an account in a financial institution (or mobile money provider). That’s the good news from the 2017 global findex database published last week by the World Bank.

The bad news is that nearly half of those account-holders don’t use those accounts. India’s share of inactive accounts, at 48%, is the highest in the world, the World Bank notes in its report based on the survey.

Photo courtesy of Satish Krishnamurthy.

Source: Livemint (link opens in a new window)

Tags
financial inclusion, unbanked, World Bank