Financial Inclusion In India
Join FIA’s mission to create a world where every person has access to holistic financial development.
FIA Makes Financial Inclusion in India Simple
With an extensive network of Business Correspondents, FIA has helped bring doorstep banking and financial services to 95% of India. We aim to make it a part of every Indian’s reality.
Financial Inclusion
What is Financial Inclusion
Why?
Beyond Just a Bank Account
While a number of government schemes help millions get access to banks every year, financial inclusion must go beyond the simple act of opening a bank account. It must be expanded to include the entire range of financial services available. The development of financial inclusion in India must help individuals:
- Use financial instruments for wealth creation (savings and investments)
- Invest in social security for times of crisis (health insurance, property insurance, automobile insurance)
- Access capital for personal and business enterprises (housing and SME loans)
- Lack of manpower
- Difficulty is reaching remote locations
- High operational costs
- Lack of financial literacy among communities
This is where Fintechs like FIA bridge the gap. Equipped with superior technology, FIA can develop digital solutions to overcome all the above obstacles. From KYC verification to loan application, fintechs and neobanks offer smooth and convenient access to financial services right from the individual’s mobile phones. Their twofold process of providing digital financial products as well as financial literacy can help create an integrated financial ecosystem for the end-consumer.
