On Thursday, November 29, 2018, Frankfurt School of Finance & Management in cooperation with the Consulate General of India in Frankfurt and the Frankfurt Chapter of the Society for International Development, organised the event “Digital Transformation in India: Achieving financial inclusion for one billion citizens?”
Professor Dr Nils Stieglitz, President of Frankfurt School, welcomed the attendees and introduced the recently established India Desk. The virtual India Desk is designed to encourage more Indian students to enroll in the business school's programmes as well as to ensure better facilitation during their stay in Frankfurt. The sentiment was shared by Norbert Noisser, President of the Society for International Development, Frankfurt Chapter. Consul General Pratibha Parkar spoke about the milestones achieved towards financial inclusion thanks to the Jan Dhan Yojana Scheme – a financial inclusion programme of the Government of India that aims to expand and make affordable access to financial services. Also, the refinancing institution Mudra Yojana as well as the upsurge in the digitalisation of financial service providers have supported financial inclusion in India.
Following, Dr Barbara Drexler, Associate Dean of International Affairs at Frankfurt School, moderated a panel. Manoj Sinha, Assistant Vice President, State Bank of India Germany, Christian Hecker, Business Manager to the Head of Retail Banking at ING-DiBa and Mr. Anirudh Agarwal, PhD fellow at Copenhagen Business School, talked about recent developments.
During the last four years, policies such as the implementation of the AADHAAR, the world´s largest biometric ID system, have helped people in India to get access to financial services. Especially rural areas have benefited from the government´s policies.