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[Music] hi everyone Financial inclusion has never been more crucial to policy makers as it is right now geographical constraints a lack of banking infrastructure widespread Financial illiteracy and our country's High population density makes it extremely difficult for Rural Indian business owners to obtain official financial services and products so in order to enable small business owners particularly in rural India to have access to low-cost formal Financial products and services effective programs like the Pradhan mantri janta yojana and Pradhan mantri mudra used to collaborate with digital Financial infrastructures like the aadhaar enable payment system and UPR let's talk about the problem of accessibility and affordability India's small rural business lacks safe access to formal banking facilities for Lending and savings those that do so lose time associated with traveling to unsuitable location for banks furthermore when formal banking Solutions are available the strict lending criteria become obstacles to their ability to accept loans showing that accessibility is not always guaranteed by affordability so how can UPI be used to increase Financial inclusion for Rural msme's mobile phones are the answer to this issue facing India's millions of rural Traders first UPI may be utilized to offer msme's digital payment solutions that would allow them to securely and conveniently accept payments from clients but the question is are digital Financial infrastructures truly inclusive when digital financial services are mentioned the debate regarding access to Reliable internet connections keep coming up UPI 123p recently launched immediate payment system was introduced by The Reserve Bank of India as a straightforward yet effective response to this pressing issue it would enable users to conduct UPI transactions without a network connection now let's talk about kirana stores as micro ATMs changing the landscape of rural banking in rural India micro ATMs are quickly becoming an extensively used Financial infrastructure the Indian entrepreneurial spirit is represented through the kirana ecosystem they simplify the lives of local residents by providing basic Banking and Financial Services in conclusion emerging Nations like India where mobile phones are more common than bank accounts digital payments are a crucial tool for increasing Financial access Financial inclusion may become a reality with consistent and fair implementation which can change how rural business owners run their operations to make better decisions and save a lot of money and resources thank you for watching foreign [Music]