In the previous post we had covered the keynote address delivered by Mr. Nandan Nilekani at the IFMR Holdings Event, 2015. In this post we share the keynote address that was delivered at the event by Ms. Arundhati Bhattacharya, Chairperson, State Bank of India, on the topic of “A Robust Architecture for Financial Inclusion in India”.
Tracing the roots of growth to a period when India liberalised its economy in the early 90’s, she talked about how financial inclusion is both enormously challenging and at the same time presents itself as a huge opportunity. She described a robust architecture of financial inclusion as one that directly implies a robust banking system, which in addition to having banks at the centre of the wheel also will have differentiated banks, Business Correspondents among others. In addition she stressed that this architecture of financial inclusion comprises of inter-disciplinary trends that shape the economy and also one in which technology and literacy will play a critical role.
In her talk she also mentioned how the e-commerce boom that the country is witnessing would play a crucial role when it comes to SME inclusion. The prime reason being that such platforms give financial institutions better understanding of the SME business that they are financing.
Watch her keynote address in the Video below: