Globally, close to two billion adults – or over 45% of the adult population – don’t have access to a bank account. For those who do have access, an estimated 1.3 billion still rely on cash. Individuals who are considered unbanked or underbanked are excluded from most economic activities because they lack credit history. This lack means they don’t have access to loans at competitive rates, and must often face higher operational costs.
Read more at Building blocks of an economically inclusive market in India – Tech2
Read more about management consulting firm McKinsey’s survey on digital banking in India. Act Now
