Nirmala Sitharaman Discusses Impact Of Financial Inclusion At Columbia University

Finance Minister Nirmala Sitharaman underscored the massive impact India’s focus on financial inclusion has had on creating a more vibrant and resilient financial system. Speaking at New York’s Columbia University on ‘India's Economic Resilience and Prospects Amidst A Challenging and Uncertain Global Environment’, the Finance Minister highlighted how the number of adults with bank accounts has more than doubled since 2011, providing a larger pool of savers and investors. “This increase in financial access, combined with a more educated and skilled workforce, positions India to take advantage of emerging trends in the global economy”, Nirmala Sitharaman said. She also spoke on how India’s banking system has remained robust, with low levels of non-performing assets and high capital adequacy ratios.