India to Use Technology for Financial Inclusion

Ravi Shankar Prasad, an Indian minister, said digital inclusion is the foundation of financial inclusion.
Ravi Shankar Prasad, an Indian minister, said digital inclusion is the foundation of financial inclusion.

In today’s increasingly specialized and cut-throat world, a person needs in-depth knowledge and extensive domain expertise to handle a particular department even in a small company.

But it is highly unfortunate that people with no qualification or expertise become Prime Ministers, ministers, and bureaucrats in India to manage highly complex domains of governance. That’s why India continues to be a poor, underdeveloped country. ~ Rakesh Raman


Speaking at a conclave on ‘Financial Inclusion’ organized by the United Nations, Ravi Shankar Prasad, an Indian minister, said digital inclusion is the foundation of financial inclusion.

“This is the age of information, and information is power. This is the age of technology, and technology is power; and this technology must empower India,” Prasad said.

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He added that India needs to create a digital ecosystem, which leads to digital inclusion while digital India is more for poor and underprivileged.

“We are undertaking a lot of transformative initiatives like Digital India, Make in India, Start-up India, Smart Cities, Skill India. These are all technology based programmes. Digital inclusion must be the common thread,” the minister stated.

The day-long conclave focused on physical access and infrastructure of financial inclusion, maximizing financial access and literacy for women and marginalized groups and using technology and innovation to determine the way forward.

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Rakesh Raman