Inclusive Finance India Report 2014
has attempted to survey the financial services sector in India through the lens of
inclusion. This marks a shift in focus as compared to its eight predecessors—titled as
Microfinance State of the Sector
Reports
or SOS Reports—that strictly limited their scope to analysing the growth trends and policy changes in the
microfinance sector. The context and the terms of discourse of pro-poor financial services in India has been decisively
altered in the past few years consequent upon the accelerated policy attention on financial liberalization and financial
inclusion since the mid-2000s, the Andhra Pradesh microfinance crisis in the late 2000s and the subsequent regulatory
initiatives by the central bank. The last two editions of the SOS Report did take note of these shifts and discussed their
plausible implications for the structure and conduct of the microfinance sector.
The current edition of the report has chosen ‘inclusive finance’ as its theme in recognition of the fact that the core of
India’s financial sector policy has come to be constituted by restructuring and reforms that promote financial inclusion.
The report seeks to bring together the varying perspectives, policy prescriptions and practices around financial inclusion
as they have evolved through recent years. While these are still in a stage of evolution and experimentation, there has
not been much sharing and cross-learning among the stakeholders. Sieving through the vastly different experiments
and initiatives has not been easy for us and several individuals and institutions extended their unconditional support to
help us make sense of them.
We have provided the list at the end of the report of all those who have graciously and generously spared their time
to discuss ideas and respond to our queries. However, we would like to specially mention the following individuals and
institutions and place on record our deep appreciation:
•
Y.C. Nanda, Brij Mohan and other members of the Board of Advisers, Access Development Services (ADS), for
advice and suggestions
•
N. Srinivasan for his invaluable inputs towards developing the structure of the report
•
Vipin Sharma, Chief Executive Officer, ADS for reposing his trust in us as also for providing feedback
•
Radhika Agashe, Executive Director, Access Assist for efficient management of the project, without ever betraying
the stress and tribulations of holding the many parts together
Preface
