{"title":"From Social and Development Banking to Digital Financial Inclusion: the Journey of Banking in India","authors":"Kaustavi Sarkar, R. Thapa","doi":"10.1163/15691497-12341575","DOIUrl":null,"url":null,"abstract":"\nThe Indian banking and financial sector has endured a long journey from social and development banking to digital banking and financial inclusion. In recent years, there has been a growing consensus in support of digital financial inclusion. Several influential international entities argued strongly in favor of digitization of banking and expansion of digital finance. We tried to understand the journey of Indian banks through the lens of historical and economic changes, ranging from social and developmental banking to digital financial inclusion. In particular, the journey has been analyzed in the context of the changing role of the state, data-driven banking, and the infrastructural base required for a digital banking and payment system. Further, drawing experiences from other emerging nations, an attempt has been made to understand how far digital financial inclusion would be successful in India in reaching the unbanked and marginalized.","PeriodicalId":43666,"journal":{"name":"Perspectives on Global Development and Technology","volume":"36 1","pages":"650-675"},"PeriodicalIF":0.5000,"publicationDate":"2021-02-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Perspectives on Global Development and Technology","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1163/15691497-12341575","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q4","JCRName":"DEVELOPMENT STUDIES","Score":null,"Total":0}
引用次数: 1
Abstract
The Indian banking and financial sector has endured a long journey from social and development banking to digital banking and financial inclusion. In recent years, there has been a growing consensus in support of digital financial inclusion. Several influential international entities argued strongly in favor of digitization of banking and expansion of digital finance. We tried to understand the journey of Indian banks through the lens of historical and economic changes, ranging from social and developmental banking to digital financial inclusion. In particular, the journey has been analyzed in the context of the changing role of the state, data-driven banking, and the infrastructural base required for a digital banking and payment system. Further, drawing experiences from other emerging nations, an attempt has been made to understand how far digital financial inclusion would be successful in India in reaching the unbanked and marginalized.
期刊介绍：
Perspectives on Global Development and Technology (PGDT) is a peer-reviewed journal for the discussion of current social sciences research on diverse socio-economic development issues that reflect the opportunities and threats brought about by the world order shift from bipolar to global, the present economic liberalization that constricts development options, and the new enabling technologies of the Information Age. A founding principle of PGDT is that all people are entitled to scientific and technological knowledge to promote human development. PGDT is the international forum where the questions associated with this endeavour are thoroughly examinated and clearly communicated.
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