India is a great example of how financial inclusion can work: German Envoy
- IBEF
- January 13, 2023
Mr. Manfred Auster, the Consul General of Germany (German envoy) said, India is a great example of how to bring about financial inclusion and it needs to share this experience with the world at large. Adding to it, he said that India has made tremendous progress over the last 10 years and is much more advanced when it comes to electronic payment methods than other countries (Germany).
He compared India’s financial inclusion to that of Germany and said that Indians pay everywhere with Unified Payments Interface (UPI), even to the small vendors, but in Germany, a lot of cash is still being used. Financial inclusion is important as common people, especially women, can participate in the economy, he said.
The German envoy stated that India has taken over the G20 presidency from Indonesia at a very crucial time for world development.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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