Macros With Mythili – Lack Of Financial Inclusion

In this edition of Macros With Mythili, Mythili Bhusnurmath looks at one issue that has been with us over the years and is unlikely to disappear any time soon, which is that of financial inclusion or rather the lack of it. More than 60 years after independence, only about 60% of the population has access to formal banking systems - this despite the fact that the government and RBI have taken a number of steps to improve access. In a bid to change that, the RBI has now come out with draft guidelines on 2 new kinds of banks - payment banks and small banks. Will these succeed where others have failed? Joining her in the discussion are Subir Gokarn - Head of Research at Brookings India, Diwakar Gupta - former MD at State Bank of India and Ashwin Parikh - Banking Consultant.Episode 22