Financial Inclusion – Past, Present and Future Inaugural Address by Shri Shaktikanta Das, Governor, Reserve Bank of India Delivered at the Economic Times Financial Inclusion Summit on Thursday, July 15, 2021 I wish to thank the organisers of the Economic Times Financial Inclusion Summit for inviting me to address this august gathering.
Accordingly, investment in intangible assets is now identified as an important element of new sources of growth in the developed economies.8 If I may point out the findings of one recent research study, investments in intangible assets are more sensitive to the availability of internal funds (or cashflow) compared with investments in tangible assets.9 If financial markets were perfect markets, the sources of funds – that is, internal financing or external financing including bank financing – would be completely substitutable, and corporate investment would not be affected by the availability of internal funds.