Bill Gates co-founder of Microsoft believes that the ability to save and transact should be universal. He said that with robust system in countries like India, one can have digital financial inclusion.

Financial inclusion is not possible with traditional systems as the cost of bank branches and paper work are too high, he said.

He said, "The role of the Gates Foundation as an advocate for those who don't have access to financial inclusion, is to make sure that there is technology and standards, including open source work that we are providing through the financial switch which is called Mojaloop and through the digital identity system called MOSIP."

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(Edited by : Abhishek Jha)