New Delhi: Foreign investors are increasingly flocking to India’s financial sector as the country transforms a large population of previously unbanked individuals into a data-rich market, a recent report said, urging Africa to pursue the same model.

Despite challenges from external trade headwinds and widespread account dormancy, the FDI influx suggests confidence in India’s digitally-driven transformation, where its huge population is harnessed as a scalable market through innovative policies and fintech ecosystems, the report from Sunday Independent said.

The report also noted an internal contradiction of nearly 89 per cent adult account penetration against 25 per cent account dormancy rates. Despite this dormancy rate, investors like Citigroup, Barclays, and Japan’s MUFG are expanding

See Full Page