For regulators, this is a vital input in anticipating build-up of risks and taking proactive measures. The holy trinity – financial inclusion, financial education and consumer protection 16. Post the global crisis, financial sector regulators and policy makers have been focusing on the objective of “financial stability” to bring back sanity and normalcy to the global financial system.
That financial inclusion, financial education and consumer protection, form the three essential pillars on which financial stability rests, has been universally endorsed and accepted. Banking the unbanked, providing access to financial services, educating the consumers and creating a sense of safety in their minds are necessary for the governments and regulators alike, both in India and elsewhere.