For over a few centuries now, the doctrine of Egalitarianism or the Indian variant of Antyodaya has been enthusing political movements across the globe maintaining the equality of humans in both fundamental worth as well as social status.
It’s, however, interesting that what popular politics couldn’t accomplish for so long, the same has been delivered by Technology in just decades and has somewhere made the entire process of empowering the last man on the street irreversible.
One of the largest Financial Inclusion programmes in the world – Pradhan Mantri Jan-Dhan Yojana (PMJDY) has been spearheaded and successfully delivered by India driven by a firm political will and backed by a multi-layered technological stack.
The initiations of this tech-powered Antodaya 2.0 are now being furthered on the winning triad of Jan – Dhan – Aadhar – Mobility platforms to provide as many financial services as possible across the length and breadth of this sub-continent having over six lakh habitations and a mind boggling diversity.
The classic imagery of India in the pre-Independence era, that of fleecing money lenders usurping the value created by toiling peasants, has been transgressed by technology-empowered banking. The advent of payment banks has been a blessing across India’s ‘rurban’ landscape and it is picking up. The due integration of insurance products of various denominations using the aforesaid financial inclusion platforms is yet another breakthrough.
This issue of BFSI Post magazine carries featured interactions with some of the movers & shakers in the space from nationalised as well private players. The new technological players in the fray, the creators of payment systems like ePaisa, along with the industry veterans like Finacle, have found voice here. The distinction between a banker and a technology configurator is somewhere diminishing.
The 3rd Annual Financial Inclusion & Payment Systems Conference on 3 December 2015 in New Delhi, being organised by Elets Technomedia Pvt Ltd, in association with BFSI Post, brings to the fore the technological advances as well as innovative practices and processes powering the financial inclusion revolution. It gives me immense pleasure to present this issue on this coveted occasion.
At Elets Technomedia, it remains our perpetual quest to interpret the inception and implementation of technology for development.
I would like to take this opportunity to wish you a very happy & prosperous 2016!