Efforts are being made by the authorities - especially banking regulators - to improve access to affordable financial services through financial education, leveraging technology, and generating awareness. I would like to illustrate by quoting some recent developments.
Utility bills payment and remittances would be handled through ATMs, kiosks or personal computers reducing both time and cost. The country’s payment system infrastructure has been strengthened to provide convenience in transfer of payments to the customers. The concept of branchless banking has opened a new avenue for efficient channeling of funds.