FATF's new financial inclusion guidelines endorse India's institutional mechanisms

FATF SAID INDIA CREATED A SOLID INSTITUTIONAL FRAMEWORK TO BOOST FINANCIAL INCLUSION

- Neeraj Chauhan and Rajeev Jayaswal

NEW DELHI: The Financial Action Task Force's (FATF) new guidelines on financial inclusion have extensively endorsed India's institutional mechanisms such as Jan Dhan, Aadhaar and Mobile (JAM) Trinity, as well as digital stacks, customers due diligence, and Financial Stability and Development Council (FSDC), emphasizing that financial inclusion and the fight against financial crime are mutually supportive.

The new guidelines cited India's financial inclusion efforts through digital identification and biometric data registries.