“If we are to believe the Gujarat experience with governance, what I am expecting is a much more business-like approach to governance and to solving the problems of financial inclusion,” says Sanjay Sinha, Managing Director of Micro-Credit Ratings International (M-Cril), a company that rates microfinance institutions (MFIs) and provides research and other services designed to promote the flow of investments into microfinance.

Sanjay Sinha expects an environment where there will be a more liberal dispensation towards mobile banking and towards encouraging the non-banking finance company-microfinance institutions to accept deposits (currently they can only offer credit). This approach, he says, is what the financial inclusion space also needs since it is only with this that greater outreach can be achieved as one would rely on technology and move beyond the banking infrastructure. Also, considering that a more business-like government results in higher economic growth, then that will have a significant inclusive result because there will be a multiplier effect.

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