Question

Which is introduced by banks to increase financial inclusion?

Answer 1

Financial inclusion is where individuals and businesses have access to useful and affordable financial products and services that meet their needs that are delivered in a responsible and sustainable way. Financial inclusion is defined as the availability and equality of opportunities to access financial services[1]. Those that promote financial inclusion argue that financial services can be viewed as having significant positive externalities when more people and firms participate. One of its aims is to get the unbankedand underbanked to have better access to financial services. The availability of financial services that meet the specific needs of users without discrimination is a key objective of financial inclusion. For example, In the United States this condition represent a third of the Hispanic community born in America and half the foreign Hispanic community living in the United States remain unbanked[2]. For this example, give financial services is key in order to growth as a society.