Only then will we be able to avoid the problem of low level of transactions in the newly opened accounts, which we are currently facing in our financial inclusion efforts in the rural areas. As I have always maintained, technology has to be the bulwark around which our financial inclusion efforts have to be developed.
Innovative ICT solutions have to be leveraged to provide door step services of specifically designed products at place and time convenient to the targeted population group. Disbursement of bank loans in association with well meaning NGOs and also involving them in proper monitoring/ hand holding of beneficiaries can result in poverty alleviation for a large number of people.