Despite the Indian banking industry making significant improvements in all areas relating to financial viability, profitability and competitiveness, concerns persist that banks have not managed to include a vast segment of the population, especially the underprivileged sections of the society, into the fold of basic banking services.

The Economic Times India Financial Inclusion Summit 2008, held on August 6, 2008 at New Delhi, brought together key stakeholders to highlight critical challenges and opportunities on the subject. The objective of the summit was to understand how stakeholders will co-exist to make the economy financially inclusive and reach the bottom of the pyramid, identify roles of various stakeholders—Government, Banks, SHG's, MFI, NGO & Insurance—and how simplifying technology would help amplify the effect of Financial Inclusion.

There to speak about the critical subject were industry stalwarts like Ms. Naina Lal Kidwai, Group General Manager & Country Head, HSBC India as well as eminent government representatives like Dr. C Rangarajan, Chairman, Economic Advisory Council to the Prime Minister, Government of India and Shri Vinod Rai, Comptroller and Auditor General (CAG), of the Government of India.

The day-long summit included presentations and panel discussions on topics like Individual Lending, limitations and the way forward for microfinance, mobile banking, and the role of financial literacy in increasing financial inclusion.