Explanation:

Technology and financial inclusion are the popular coinage in banking parleys in the country. 
While technological upgradation and mobile banking are catching up so fast, financial inclusion is tardy. 
Of the 6.9 billion people on the planet, just 30 per cent (2.1 billion) have bank accounts while 75 per cent — 5.2 billion people — have mobile phones. “In India, only 200 million people have access to a bank account while 811 million have a mobile phone. For a population of 1.2 billion people, this translates into 68 per cent having a mobile phone and only 17 per cent having a bank account. The numbers speak for themselves: when it comes to reaching the ‘un-banked' and extending financial inclusion for the larger population, mobile phone is the key,” said Wim Raymaekers, Head of Banking Market, SWIFT.