Business diversification and expansion helps them grow thereby leading to increase in job opportunities and in general promote economic development. Without adequate, timely and affordable access to formal credit, the customers are dependent upon either own equity or informal sources of credit, both of which are not only costly but perhaps unsustainable on a long-term basis.
4  However, a challenge in our financial inclusion journey is to enhance the level of activity and utilisation of diverse financial products and services following opening of a bank account. In this background, going digital way seems to be a solution for all the obstacles. However, this is easier said than done.