This August, the 2015 Brookings Financial and Digital Inclusion Project report ranked India ninth among 21 countries in financial and digital inclusion efforts. This was based on four dimensions of financial inclusion: country commitment, mobile capacity, regulatory environment, and adoption of traditional and digital financial services.

India trails countries like Kenya, South Africa and Brazil. The silver lining is that the government is committed to inclusive growth where financial inclusion plays a crucial role in helping provide numerous benefits through the strengthening of the banking system, better access to financial resources and transparent governance.