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⍰ ASK How do electronic money institutions contribute to financial inclusion in India?

In India. electronic money institutions are helping more people join the financial system. They use digital services, like mobile wallets and prepaid cards, to reach those who don't have easy access to regular banks.

These institutions make it simple for people to transfer money, pay bill, and buy things from merchants using their phones or other devices. These is handy because it means less reliance on cash and makes it easier for people in different places to do these transactions.

Electronic money institutions also work with local businesses and agents, creating points where people in rural areas can deposit, withdraw, and move money around.
 

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