Financial inclusion: Role of technology

Abstract

Despite the efforts put in by the State and Private Banks and various regulations set up by RBI, financial disparity still remains one of the major issues plaguing the Indian rural population. The micro finance industry set up in India has not been the success that it was touted to be and has failed to build the social capital and consequently failed to achieve financial inclusion. Despite having made rapid strides in technology we have fallen short of the target and hence through this CCS we aim to understand the current technology solutions and recommend ways in which we can make these solutions more effective.