UBI as a social good pt.2

https://www.brookings.edu/blog/future-development/2017/06/15/can-universal-basic-income-boost-financial-inclusion-and-transparency/amp/

In India, a government program has opened over 250 million bank accounts in the past four years, along with close to 1 billion biometric “Aadhaar” identification cards. The current government has moved toward reimbursing poor people on their purchases of basic goods with money paid directly into their bank accounts. With the banking infrastructure in place for electronic payments, the government of India in its most recent “Economic Survey” flirted with the idea of electronic UBI payments.

Ultimately, there’s a symbiotic relationship between electronic universal basic income payments and broader financial inclusion. Electronic UBI payments can bring unbanked adults into the formal financial sector; greater financial inclusion can lay the groundwork for the introduction of more efficient government payments.