Even as India moves aggressively to close the financial inclusion gap, the picture of financial inclusion in that country as captured in the latest Findex report reminds us that we have a long way to go.
The rapid growth of microfinance in India today is creating new challenges for a sector hugely impacted by the 2010 crisis. The recently released Inclusive Finance India Report 2016 outlines these challenges and suggests that they should be addressed soon.
India has put in place virtually all of the supply-side factors that should make low-cost financial services available for all. But the big question right now is the customer. The next year will be telling in how the adoption of digital financial services unfolds.
India’s new financial infrastructure could connect hundreds of millions of people to financial services, but at its core is a biometric ID system that has stirred controversy around data privacy and security. What are the risks, and what can be done to minimize them?
Today, some 25 million Bangladeshis borrow from microfinance institutions. Financial diaries from central Bangladesh show how poor people are using their loans, from coping with emergencies to on-lending to others.
There are an estimated 1.2 billion young people around the world between the ages of 15-24, with the vast majority living in developing countries. Whether countries are able to harness the potential of the vast numbers of youth in their economies will depend in part on how they manage the individual transitions that youth make in their lives.