It could be argued that a competitive financial system which is well-regulated, keeping in view the needs for stability and consumer protection, would automatically ensure inclusive finance. Experience so far does not support such a view. Public policy in relation to the financial sector therefore needs to consider the expectations of large sections of the community, typically those of a common person.
We worry about the timing and strength of the recovery, about how our country will fare in ten years’ time, about the employment prospects and future well-being of the generation on the threshold of adulthood. A prosperous society knows how to ensure a constant improvement in the quality of life of its members.