Abstract

Literature has provided a robust evidence on the link between financial inclusion and development. The onus lies on governments on ensuring the diffusion of financial services to the remote corners of the nation. The rapid diffusion, penetration and global reach of Information Communication Technologies (ICT) have assisted and continues to assist this aim of governments to a large extent. Financial management is, for the poor, a fundamental and well-understood part of everyday life. To enable them with better access to needs in life leading to social inclusion, they have to supported by external financial services. In light of this scenario, this paper attempts to understand a project from the Actor Network Theory (ANT) perspective focussing on improving the disbursement of financial services in an emerging economy. Statistics indicate India has the lowest penetration of banks/ATMs per 100,000 population compared to any of the BRICS nation. The Indian Postal department utilising its large Postal Network in the world with 90% penetration in the rural areas leverage this large network for disbursement of financial services to all citizens focussing primarily on rural villages. Bringing banking services closer to citizens through these post offices ensure efficient, accessible and readily available banking network across the nation. Thereby guaranteeing financial inclusion to the rural populations. The paper highlights the dynamics and the network involved in the process of ensuring financial inclusion, followed by addressing the critical success factors and pain points in the development of this project. The study provides an example of an emerging economy utilising the available resources attempt to attain development through efficient banking system.

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