Growth is crucial to financial inclusion: CEA Nageswaran

Economic growth is the most sustainable form of financial inclusion as it creates jobs, boosts incomes, and develops markets, India’s chief economic adviser V. Anantha Nageswaran said on Tuesday.

- Gireesh Chandra Prasad

Speaking at the global inclusive finance summit in the national capital, Nageswaran urged banks to treat borrowers emerging from government credit support schemes as regular customers. He also asked investors in inclusive finance institutions to accept lower returns in exchange for social impact. Inclusive finance refers to microfinance or lending to low-income individuals to help them start or expand small businesses.