Despite the best efforts by policy makers and state-owned banks, the last mile problem has been an insurmountable hurdle in the way of financial inclusion for the poor. Many solutions have been tried but most have reported partial success. Bindu Ananth, Chair – IFMR Trust & IFMR Holdings, is possibly the best person to write on this given the number of years she has spent in studying the problems at the ground level and figuring out solutions that work. In this column, she busts some common fallacies about financial inclusion.
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