In keeping with this optimistic view of a still uncertain India venture, we conclude with three more positive items to highlight. Two reflect new changes by the government and one goes back to the fundamentals.
Aadhaar, the effort to give every Indian resident a unique identification number for the purpose of accessing services and social benefits, is at the center of India's progress towards financial inclusion.
Envisioned as a digital revolution for government transfers, India's Direct Benefit Transfer program transfers government benefits into recipients' bank accounts. Three years in, the government continues to face challenges in digitizing transfers. Is there a way forward?
We often write on this blog about the potential to link government-to-person (G2P) payments to financial services. We also closely follow branchless banking developments in India and have recently shared our take on the market. So imagine our excitement when we can talk about both together!