India has been a priority for Accion’s work since our first project there in 2005. With a large, diverse, young, and entrepreneurial population, India is similar in many ways to other parts of the world in which we are active. At the same time, the country also offers unique opportunities across the entire spectrum of our experience and expertise.

In recent years, India’s government has made a concerted effort to bring its entire population into the formal economy, and has dedicated significant resources to policies and technology platforms to help achieve this goal. Progress has been impressive: according to the World Bank Global Findex, between 2011 and 2017, the share of adults in India with a bank account more than doubled, reaching 80%.

And yet, the same Findex reports that in 2017, India had the world’s second-highest number of unbanked people, and the highest number of dormant bank accounts. There is still so much more work to do to ensure that everyone in India has access to financial services that meet their needs, and Accion is committed to helping make this happen. Examples of how we are doing this include:

Having worked with dozens of financial institutions and fintech startups, Accion is excited about India’s future and about doing our part to ensure that everyone in the country has access to economic opportunity.

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