Financial Inclusion In Urban India
Leave aside the rural population, even in urban India a vast number of people are still outside the banking system. Achieving 100% financial inclusion in urban centers still remains a distant dream. In India, the basic concept of financial inclusion is having a saving or current account at any bank. Even opening a simple bank account remains a challenge despite the regulator taking many initiatives to simplify it. The banking penetration in India is thin and much below the globally accepted standard....