Financial inclusion lies at core of central banking: CEA Anantha Nageswaran

New Delhi, Oct 19 (IANS) The Government’s Chief Economic Adviser, V. Anantha Nageswaran, on Monday said that financial inclusion is not a peripheral objective but lies at the core of central banking.

In his address at the RBI Samvad 2026 event here, the CEA, drawing on India’s experience, observed that access to finance need not necessarily follow income growth, but rather financial inclusion could lead to rising incomes and economic opportunities.

The panel discussion on financial inclusion brought together central bank governors from Zimbabwe and Guyana, a board member from the Central Bank of Paraguay, and experts from the OECD and the World Bank, while the context setting was done by the Central Bank of Kenya’s Deputy Governor, Gerald Nyaoma, on the topic, ‘Advancing Financial Inclusion: Emerging Mandates and Way Forward’.

The panellists highlighted the importance of consumer protection, digital financial tools, addressing the needs of vulnerable segments, and strengthening households’ ability to manage financial risks. The key message was that financial inclusion must evolve from access to effective usage, participation to empowerment, and ultimately, towards greater financial well-being and economic resilience.

In his address at the event, NITI Aayog member Abhay Karandikar highlighted India’s progress in Artificial Intelligence and its transformative potential for the future.

The subsequent panel discussion on “Governing Autonomous Systems: Trust, Accountability and Stability” explored the evolving role of AI in finance. The discussion underscored the importance of building trust through adequate safeguards, robust data privacy and information-sharing frameworks, common benchmarks, and strong governance mechanisms to ensure transparency, accountability and financial stability.

Samvad 2026, an international seminar for central banks, was inaugurated in the morning with RBI Governor Sanjay Malhotra delivering the welcome address and Union Finance and Corporate Affairs Minister Nirmala Sitharaman giving the keynote address.

The two-day event brings together Central Bank Governors, senior policymakers, representatives from international organisations and subject matter experts from across the world to discuss emerging challenges and opportunities facing the global financial system.

–IANS

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