Home / Market / Mark-to-market /  How India compares on financial inclusion against other countries
Back

The central government’s diktat to open bank accounts for millions of new depositors and give overdrafts to them to push financial inclusion has drawn a lot of flak. But while we may cavil about the choice of method, there’s little doubt that India remains a vastly under-banked country. Also, what matters most for households is not opening deposit accounts, but access to credit. It’s in this regard that India’s track record is abysmal. Its household debt-to-GDP (gross domestic product) ratio, as the accompanying chart 1 from Citi Research shows, is a mere 8.9%, the lowest among its Asian peers.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less

Recommended For You

Trending Stocks

×
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout