Shadow banks and commercial banks work in tandem to offer affordable loans and to reshape India's financial landscape for the underserved majority. #rbi #financialinclusion #banks #nbfcs Read more »
India has done well to improve financial inclusion, but 28% of rural households and 80% of MSMEs still lack access to formal finance. Read more »
RBI’s Financial Inclusion Index has risen to 56.4 in March 2022. This is a significant increase from 53.9 in March 2021 and is reflective of growth across all sectors, the report said. Read more »
The RBI and NPCI launched UPI123Pay in March to enable offline payments on feature phones without internet access. Read more »