Financial inclusion is a policy priority in India, with the focus on the supply-side of the financial inclusion drive and programmes such as the Pradhan Mantri Jan-Dhan Yojana. Insufficient attention, however, has been paid to the use of banking services by people at the bottom of the pyramid in order to understand what constrains them from using the formal financial services on offer. This study looks at the causes of involuntary exclusion from formal financial services in the slums of Delhi.
