Institutional evolution of the Indian banking As most of you would, no doubt, be aware, the indigenous system of banking had existed in India for many centuries, and catered to the credit needs of the economy of that time. The famous Kautilya Arthashastra, which is ascribed to be dating back to the 4th century BC, contains references to creditors and lending.
We must encourage more women to take advantage of emerging technologies to run their businesses and to improve their access to finance. We must harness the opportunities presented by the rapid growth of mobile money to make more finance available to women in the informal sector and encourage them to formalise their economic activities.