Reform financial space with new policies backed with AI, cryptocurrency

We need an open access to all entities desiring to serve the mass middle and bottom of the pyramid without restricting operations through the banking channel

Even seven decades after Independence India continues to struggle in providing basic financial inclusion services to crores of our countrymen. Besides banking, all the other financial services, viz. payments, credit, insurance and investment, have eked out a meagre penetration of five-15 per cent in this billion-plus country. Based on my 20 years of experience in banking, financial services industry, and extensively in the fintech sector, I have realised that the root causes for this miniscule financial access are the current regulatory approach, routing of all financial services through the banking channel and lack of a technologically integrated model that serves