TY - BOOK ID - 134199361 TI - India’s Approach to Open Banking: Some Implications for Financial Inclusion AU - Carriere-Swallow, Yan. AU - Haksar, V. AU - Patnam, Manasa. PY - 2021 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Accounting KW - Finance: General KW - Industries: Financial Services KW - Banks KW - Depository Institutions KW - Micro Finance Institutions KW - Mortgages KW - Financial Institutions and Services: Government Policy and Regulation KW - Economic Development: Financial Markets KW - Saving and Capital Investment KW - Corporate Finance and Governance KW - Monetary Systems KW - Standards KW - Regimes KW - Government and the Monetary System KW - Payment Systems KW - Public Administration KW - Public Sector Accounting and Audits KW - Finance KW - Computer applications in industry & technology KW - Public finance accounting KW - Financial services KW - Fiscal accounting and reporting KW - Payment systems KW - Mobile banking KW - Fintech KW - Financial services industry KW - Finance, Public KW - Clearinghouses KW - Banking KW - Banks and banking, Mobile KW - Technological innovations KW - India UR - https://www.unicat.be/uniCat?func=search&query=sysid:134199361 AB - We examine how the development of the digital infrastructure known as the “India Stack”—including an interoperable payments system, a universal digital ID, and other features—is delivering on the government’s objective to expand the provision of financial services. While each individual component of the India Stack is important, we argue that its key overarching feature is a foundational approach of providing extensive public infrastructures and standards that generates important synergies across the layers of the Stack. Until recently, a large share of India’s population lacked access to formal banking services and was largely reliant on cash for financial transactions. The expansion of mobile-based financial services that enable simple and convenient ways to save and conduct financial transactions has provided a novel alternative for expanding the financial net. The Stack’s improved digital infrastructures have already allowed for a rapid increase in the use of digital payments and the entry of a range of competitors including fintech and bigtech firms. ER -