Viewpoints

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PERSPECTIVES ON DIGITAL CURRENCY

Nov 19, 2010

Payments System

India – Bringing Banking to the Un-banked

Currently in India, the vast majority of many residents simply do not have access to basic banking services. One of the greatest challenges for the government is ensuring that all of its citizens are able to access these services—the concept of financial inclusion is a key focus and fundamental principle of the Indian government. It helps facilitate economic growth, it allows the un-banked for the first time—in many instances—to be able to effectively save, access credit, efficiently pay for goods and services (as well, in the case of merchants to be paid),  and it offers the added benefit of reducing fraud and increasing tax revenue.

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Posted by: Uttam Nayak, Group Country Manager, Visa Inc. on November 19, 2010 at 9:24 am