Digital finance with respect to financial inclusion

Abstract

From thumb impression to signature and back to verifying everything with your thumb-the journey of an average Indian has come a full circle. Today, we can purchase groceries, get investment advice, buy investment products, buy insurance and even avail credit online. Nearly every aspect of our daily activities can be conducted digitally enabled by technological innovation which has pervaded in every aspect of our lives. Access to credit is one of the biggest impediments to our country’s economic growth. There is a big gap to fill on the credit side-whether it is financial inclusion or microfinance, the opportunity is large. Technology in digital finance will play an integral role in leveraging this opportunity.