Meeting these challenges is going to demand lateral thinking, entrepreneurship and management calibre – all a far cry from anything like boring. In order to illustrate this, I will list and explain what in my view are four big challenges that Indian banks will need to address. First challenge: financial inclusion 36.
Despite its impressive progress, commercial banking in India has not penetrated sufficiently to serve the large mass of rural, illiterate and poor people in any meaningful way. Rough estimates indicate that of the 600,000 habitation centres in the country, only about 30,000 centres are covered by commercial banks.