Hence, financial inclusion initiatives are vital to enable the unbanked population to participate meaningfully in the monetized economy. We are confident that our efforts through financial inclusion will have reduced this unbanked ratio of population below 85 percent.
For instance, they can signal that the central bank intends to pursue a persistently more accommodative policy stance than previously thought, thereby lowering investors’ expectations for the future path of the federal funds rate and putting additional downward pressure on long-term interest rates, particularly in real terms.