Pioneering An Inclusive India - Nachiket Mor

If you look up Dr. Nachiket Mor on the internet, Wikipedia shows that he is an Indian Banker who has former education from IIM, Ahmedabad and a PhD from the University of Pennsylvania, two of the most prestigious institutions the world has to offer.


He has spent 20 years at ICICI bank. Served as a director in the RBI.

He certainly belongs to the crème de la crème of the Indian finance sector. But there’s more to him. An edge that makes him suitable for titles like - CEO of inconclusive India, The crossover leader and many more.


One of our mentors at Rang De, he has been with us on the journey since the very beginning.

Dr. Mor had a poised career in ICICI. He grew the bank, built its treasury, and shaped the business.


He went on to choose an interesting, different path.


Dr. Mor had a strong sense of social responsibility and a passion for development. He took charge of the ICICI foundation - the bank’s development arm and ventured on his mission to eliminate poverty.


Dr. Mor has built many models in rural India. He believes that the existing institutions and products fall short of addressing the needs of the rural population. He started by providing easy access to banking facilities for the bottom of the pyramid.


He initiated the Dvara trust (formerly IFMR trust) to bring banking services to low-income households. A whopping 6400+ crores have been disbursed until today to remote and rural India. This has gone towards seeding many enterprises and empowering countless people.


As a Central Board Member of the Reserve Bank Of India, he chaired the Committee on Comprehensive Financial Services for Small Businesses and Low-Income Households. The report by this committee outlines a clear and detailed vision for financial inclusion and financial deepening in India.


We at Rang De strongly believe in these ideas of financial inclusion and credit access.


Low-cost credit is crucial to unlocking the potential of rural India. We provide low-cost credit access to rural households through a mix of technology, design and training.


Working in rural India and developing the space is a daunting challenge. He has been a pioneer in the mission of simplifying credit access across the country.


In an interview with Transforming India Magazine Nachiket breaks down the meaning of inclusive finance. His understanding is that the role of finance is to allow people to deal with the reality they face and respond to it without any friction. If indeed the occupations that they are engaged in are not viable then finance cannot solve that but what it can do, when it works well, is to provide protection instruments, credit access, insurance, student loans, etc. which could make it possible for the household to shift occupations, seek training and move ahead.


Nachiket is deeply convinced about including more people in the financial system with his extensive experience in the banking sector and insights into rural development.


We are glad to have such visionaries as a part of the Rang De community.


Further reading : The Report by Committee on Comprehensive Financial Services for Small Businesses and Low Income Households - committee chaired by Dr. Mor

Dr. Mor's regular writings for the Times Of India Image credit : Prashant Panjiar


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