The vast majority of the world’s people will have access to internet through smart phones and tablets. Internet access could transform the way financial service providers and customers interact and facilitate a richer interface with customers.
What scenarios are possible and are providers ready to respond?
Financial inclusion as a concept addresses to those section of society who are not covered with financial services. I personally think that a large portion of unconnected people are still not using smartphones or internet in India.
Internet access has to improve a lot and should become cheaper also to become instrumental in promoting financial inclusion.
BC model is the best model to move forward to achieve financial inclusion goals.
The success of Financial Inclusion measures depends to a large extent on delivery channels i.e. integrated communication channels.In India,as per Census 2011,only 58.7% people have access to banking services,which is not very encouraging.However,the mission NRFIP as suggested by Rangarajan Committee can effectively contribute towards financial inclusion
Technological Innovations and their adoption by rural masses in right direction will boost the progress of Financial Inclusion in a country.
Dear Imran, M
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