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Financial Inclusion for Viksit Bharat: Sustained Literacy, Trust, and Access for All

In: Financial Inclusion for Viksit Bharat

Author

Listed:
  • C. S. Mohapatra

    (National Council of Applied Economic Research (NCAER))

  • Depannita Ghosh

    (National Council of Applied Economic Research (NCAER))

Abstract

IndiaFinancial inclusion (FI)Financial inclusion (FI)World BankIndiaThe chapter highlights the need to shift from mere access to financial services towards a genuine universal financial inclusion as India advances towards Viksit Bharat@2047. The authors argue that though account ownership and digital payment penetration are impressive, there is still a long way to go, to move into meaningful financial well-being especially for marginalized groups like women, persons with disabilities and rural population. Drawing from Indian and global evidence, they propose a four-pillar framework for functional and resilient financial inclusion i.e. Sustained Digital and Financial Literacy, Trustworthy Institutions, Right-Based Service Delivery and Inclusion Technology Design. The chapter suggests that the policy architecture needs to envisage a unified financial literacy framework through a National Financial Literacy Integration Mission. The authors recommend that to create a safe, informed and fair financial services, the financial future needs to be shaped by four guiding principles- Participation, Protection, Provisioning and Permanence. Delineating the multidimensional impact of effective financial inclusion as a lifelong public good, the authors stress that financial inclusion should become a moral and social compact, not just a metric, to achieve the dream of Viksit Bharat through a universally financially included India.

Suggested Citation

  • C. S. Mohapatra & Depannita Ghosh, 2026. "Financial Inclusion for Viksit Bharat: Sustained Literacy, Trust, and Access for All," Springer Books, in: Vikas Dixit & Rilina Basu Banerjee & Nisar Ahmad Khan (ed.), Financial Inclusion for Viksit Bharat, chapter 4, pages 123-150, Springer.
    • Handle: RePEc:spr:sprchp:978-981-92-0807-4_4
    DOI: 10.1007/978-981-92-0807-4_4
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