Reorienting Financial Inclusion in India
Thursday, April 3, 2014
One of India’s strengths has been the ability of its governance institutions to survive the vagaries of the political process. Whoever wins the next election, Raghuram Rajan will still be Governor of the Reserve Bank of India. His task may be made easier or harder by the new government, but he will remain in a position to shape some crucial aspects of India’s economic future. Recently, he gave a speech on financial inclusion, drawing on the Nachiket Mor Committee report, where he outlined some fresh thinking. Financial inclusion is important for increasing financial savings and for improving the quality of financial intermediation.