Digital Financial Inclusion and Inclusive Development of India


Assistant Professor Institute of Management Studies, Noida, Uttar Pradesh


An efficient financial system is a prerequisite for a country’s socio-economic
development. It acts as a building block for the mobilization of savings and allocating
them to the productive resources. Realizing the role of financial inclusion as an enabler of
inclusive growth, the Government of India along with Reserve Bank of India have taken a
number of policy initiatives to include the large unbanked masses into the financial
mainstreams. Recent development in communication technology can be used in a very
efficient manner for bringing the financially excluded people under the ambit of digital
financial inclusion in a cost-effective manner. Digital financial services have a great
capacity to support financial inclusion for inclusive economic development.