Banks have started exploring ways of formal financial inclusion of the hitherto excluded masses of the country as a strategic business proposition. Given the high volume of low- ticket transactions especially in the vast hinterland, it has become clear that innovative approach is needed to penetrate this huge market. Against this backdrop, Reserve Bank of India constituted a Working Group on Technology-enabled Financial Inclusion with Smt.Usha Thorat, Deputy Governor, as the chairperson and representatives from the banking industry, academia and the top / senior executives of the RBI as members.

While there have been various initiatives by the financial industry to reach out to the poor through innovative technology tools and business models, information asymmetry has been one of the reasons for the sporadic progress in this regard. Taking stock of this avoidable situation, the Working Group has recommended that the CAB may host an e-portal to serve as the resource centre for the technology-enabled financial inclusion efforts by banks.

This Portal developed and maintained by the CAB is an endeavour to bridge the digital information gap so that the benefits of technology may be extended to the population which is currently out of the formal financial system. We welcome your suggestions and inputs for further enrichment of this portal.