October 19, 2013
Less than a year ago a report on financial access of the poor in India, authored by the New America Foundation think-tank, found that despite the Indian government’s “ambitious attempts in recent years to provide financial services to its poorest citizens” the desired effect had not been achieved with “65 per cent of adults excluded from the formal financial sector.”
At the time NAF’s Jamie Zimmerman, who worked on the report, said, “Research shows low-income Indians can and do want to save; but government efforts aiming to make it easier for them to do so in a formal way have not yet made it compelling.”
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