The reforms in the 1990’s in India and elsewhere were facilitated by the dismantling of the Soviet Russia and the Eastern Bloc countries and triumph of the free market over central planning and control. 10. A critical component of the reform process was introduction of flexible exchange rate.
Financially literate and empowered consumers interact more effectively and assertively with financial services providers, ultimately leading to them attaining their financial objectives. Essentially, consumer empowerment is instrumental in supporting financial inclusion policies.