Financial inclusion and financial literacy 5. This conference, I know, is on financial education. Nevertheless, you would have found me speaking about financial inclusion and financial literacy together, almost synonymously. That is not confusion. That is deliberate. •  Financial inclusion and financial literacy are integral to each other. •  They are two elements of an integral strategy.
Third, it is likely that credit risk will be less concentrated on banks, thereby making them less vulnerable in the event of shocks, whilst it remains to be fully understood if and where credit risks are again concentrating on some particular sub-sectors in the non-bank constituencies.