It is Imperative To Use Technology To Address Figures of Financial Inclusion In India: Veena Mankar, Founder & Director, Swadhaar FinAccess
Swadhaar FinAccess is not for profit organisation aiming for financial inclusion through the imparting of financial education and the facilitation of access to financial services to the urban low-income communities, predominantly through women.
In conversation with The CSR Journal, Veena Mankar, Founder & Director, Swadhaar FinAccess highlights the importance of using innovation in technology to address the dismal figures of financial inclusion in India and much more.
Financial literacy and inclusion has been an impediment to growth in our country. According to a report by Standard & Poor, India is home to 17.5% of the world’s population but nearly 76% of its adult population does not understand even the basic financial concepts. Similarly, India Micro Finances reports that nearly 80% of the Indian population is without life, health and non-life insurance coverage. While life insurance penetration is 4% and non-life cover is only 0.6%.
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