We have adopted a structured, planned and an integrated approach towards FI by focusing on both the demand and supply side constraints. We have permitted non-bank entities to partner with banks for their FI initiatives. The technological advancement has made it possible for us to think of novel and innovative ways to approach the objective of financial inclusion.
For example, handheld devices, used by bank agents to draw people living in remote areas into the banking fold. Mobile technologies are trying to reach out to the populace starved of banking services as well. Financial institutions are also joining forces with network operators in providing access to mobile based payment services even to those who do not have bank accounts. 10.