Financial inclusion is the most important aspect of a country’s economic development plan as it increases the contribution to GDP, enables the government to do more for the well-being of its citizens, and fosters a favorable climate for businesses and business expansion. However, achieving financial inclusivity is easier said than done. As per the latest Global Findex Database published by the World Bank, close to one-third of all adults worldwide, i.e., 1.7 billion people, remain unbanked. Women, poor households in rural areas, and those who are not part of the workforce constitute half of this unbanked population. |
