Financial Inclusion: Need for Differentiation between Access and Use

14 Feb 2015

With no financial capacity to save and invest a dismal record of use of bank accounts and the severe lack of trust in the current model of using business correspondents it is extremely difficult to envisage how opening of bank accounts will slowly help inculcate the habit of saving among the poor. The government needs to rethink the measures to make financial services more inclusive and ask whether just opening bank accounts is the means to achieve it.