Note that the global financial crisis marked failure in several parts of the financial system; but the one segment that remained robust amidst failure all around was the payment and settlement system – the most technology intensive part of the financial system.
Harnessing this power of technology for making our banking system more efficient, and for financial inclusion, is going to be a big opportunity and a bigger challenge for us. I want to focus my remarks today on this topic. Why is financial inclusion important? 5. Why is financial inclusion important?