The liquidity generated due to ultra-accommodative monetary policy stance by Central Banks in advanced economies also created misaligned incentives. •  Chasing profits eg. ignoring risks inherent in unhedged forex exposures  Corporate misdemeanors  Not all promoters/borrowers have had a clear conscience and some of them were out to dupe the system by using foul means.
It is therefore befitting that a summit to deliberate on financial inclusion is being organised at this juncture and I commend the organisers for the same. 2. The overarching principle behind India’s journey towards financial  inclusion is echoed in the Gandhian philosophy: “Sarvodaya through Antyodaya – Welfare of all through the upliftment of the weakest”.