1、TMRole of financial services in the making of Viksit Bharat Vision 2047October 2024Foreword by ASSOCHAMThe financial services sector will be instrumental for shaping the economic landscape of India as it strives to achieve the overall goal of a Viksit Bharat by the year 2047.India is targeting to ac

2、hieve universal financial inclusion by year 2047 through digital enablement and ensuring access for all population segments.The path ahead requires synergy between the Open Network for Digital Commerce(ONDC)and the Account Aggregator Framework.This holds the promise of revolutionising financial serv

3、ices for MSME manufacturers in India.By providing enhanced data availability,improving credit accessibility,accelerating loan processing and promoting financial inclusion,these initiatives can drive substantial growth in the manufacturing sector and contribute to the vision of Viksit Bharat by 2047.

4、Further,the objective of Viksit Bharat is to empower India and help create a society that is prosperous,inclusive and sustainable wherein all of its citizens have the opportunity to thrive and meaningfully contribute to the nations progress.Towards that objective,Indias financial ecosystem is charac

5、terised by a new era of accessibility,innovation and customer engagement.The widespread penetration of UPI,Aadhaar-enabled payment system(AePS)and a full range of digital solutions have established a robust interoperative financial network.Presently,UPI alone processes billions of transactions every

6、 month not only domestically,but also as a channel for cross-border payments.Financial products are now designed to be more adaptive and intuitive,effectively making it easier for customers to interact with financial service providers.While the financial services sector in India is making commendabl