Indian households display unique financial behaviours that make conventional solutions ineffective
Over the past few years, efforts to drive financial inclusion in India have delivered mixed results. Access to bank accounts has increased dramatically, driven by a strong policy and regulatory push. But the usage of these accounts, and the uptake of formal financial services beyond savings accounts, has remained exceptionally difficult. Why might this be happening, and could “technology" be a game changer? How might policymakers nudge this process in the right direction?