In 2020, there were 14.7 bank branches for every 100,000 adults, which is more than Germany, China, and South Africa
India has left China behind in the financial inclusion drive, says a SBI study.
With an increasing number of Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts and account balance there has been a drastic decline in crimes.
Home loans: The collaboration intends to make HDFC's home loans more accessible to consumers, particularly in unbanked and underserved areas.
The Reserve Bank of India's (RBI) financial inclusion index was 53.9 ended March 2021, as compared to 43.4 for the period ended March 2017
Ideally all investments should be jointly planned and there should be transparency in money matters between spouses.
That financial planning is a vaccine against unwanted expenses has been spectacularly demonstrated by the pandemic.
The tie-up is formed to assist its 333 million customers to receive money from their relatives living overseas.
While the finance minister wants banks to increase rural footprint, reaching unbanked areas digitally offers a low-risk option for the banks.
MFIs understand the importance of tech. About 75% of firms surveyed by a global consultancy for MFIN said they had an alliance with fintech companies.