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India among top nations with most conducive environment for financial inclusion: Global Microscope report

According to The Economist Intelligence Unit's 2019 Global Microscope on Financial Inclusion report, the overall environment for financial inclusion has improved globally with India, Colombia, Peru, Uruguay and Mexico having the most favourable conditions for inclusive finance.

October 31, 2019 / 12:52 PM IST
Representative Image

Representative Image

India is placed among the top nations with the most conducive environment for financial inclusion in terms of allowing non-banks to issue e-money, proportionate customer due diligence and effective consumer protection, a report said on Thursday.

According to The Economist Intelligence Unit's 2019 Global Microscope on Financial Inclusion report, the overall environment for financial inclusion has improved globally with India, Colombia, Peru, Uruguay and Mexico having the most favourable conditions for inclusive finance.

Within the overall framework for promoting digital financial inclusion, the report identified four basic enablers - allowing non-banks to issue e-money, presence of financial service agents, proportionate customer due diligence and effective financial consumer protection.

Only four countries - Colombia, India, Jamaica and Uruguay - scored perfectly across all four parameters.