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08 February 2019 Submitted by ATIF MALIK (not verified)
Great essay: Referring to Global Findex Survey 2017, which puts the account access at 68% globally, if the same is adjusted for dormancy it comes to around 55%, level lower than the levels documented in 2014. Similarly, only 10-14% of people from lower income group are saving with a formal financial institution and only 10% of adults seem to borrow from formal sector. We really need to find answers to this intriguing question, particularly with focus on DFS, as to how successfully the objective of real inclusion with lasting affect on quality of life of poor is being addressed.
Great essay: Referring to Global Findex Survey 2017, which puts the account access at 68% globally, if the same is adjusted for dormancy it comes to around 55%, level lower than the levels documented in 2014. Similarly, only 10-14% of people from lower income group are saving with a formal financial institution and only 10% of adults seem to borrow from formal sector. We really need to find answers to this intriguing question, particularly with focus on DFS, as to how successfully the objective of real inclusion with lasting affect on quality of life of poor is being addressed.