How can an efficient PFM ecosystem accelerate financial inclusion?

• by Amit Tiwari, Gerald Ilukwe, Tanmoy Chakrabarty and Alok Kumar Verma
• Oct 31, 2022
• 1 min

In a live session at #FIW22, Amit Tiwari from MicroSave Consulting moderated a session with experts on different aspects of Public Finance Management and financial inclusions.

The public financial management (PFM) ecosystem facilitates digital payments from governments to its citizens (G2P payments) thereby impacting the pace of financial inclusion. A robust PFM system is, in part, the reason that the Direct Bank Transfer (DBT) scheme in India has become one of the flagship success stories of the Government of India’s digitization initiatives. During this session, we will discuss PFM systems and how the use of a smart payment system and/or just-in-time funding for social sector programs can strengthen financial inclusion, one of the SDGs, address key issues around inclusion and exclusion errors in social sector programs, and whether industry practitioners can develop replicable digital public goods for payment systems. We expect a lively discussion in which best in practice stories will be shared.