The introduction of direct benefit transfer by validating the identity of the beneficiary through Aadhaar will help facilitate delivery of social welfare benefits by direct credit to the bank accounts of beneficiaries.
India has shown how to integrate successfully in the global exchange of goods and services and has become an emerging market economy of major importance. Moreover, (financial) globalisation poses various challenges to both the domestic and global economic and monetary policy environment. The analysis of these challenges, their origin and possible implications, remains on the top of many central banks’ agenda.