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Publications

 
April 29, 2021

An Analysis of the Binding Constraints on Digital Financial Inclusion in India Using a Decision Tree Methodology

The past decade has seen significant innovation and growth in the volume and value of digital payments in India. However, we find that the associated gains have been heavily concentrated in favor of wealthier and urban customers and have had less impact on lower income and rural populations. While some customers now have a far greater selection of quick, cheap, and convenient digital payments methods, as much as 65 percent of the population remains effectively excluded.