India’s Chakrabarty: road to financial inclusion rocky
Financial inclusion, though well recognised as a means for inclusive growth, is constrained by several factors in India, said Kamalesh Chakrabarty, a deputy governor of the country's central bank.
Chakrabarty said that banks were faced with high operating costs in extending financial services to the remote areas. He said high maintenance cost of these accounts as well as the small size of transactions was also adding to the problem.
He also said that reaching out to illiterate people or people
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