ABSTRACT
This chapter delves into examining the distinctive approaches of Brazil and India towards open banking. Empirical evidence found that in both developing countries active economic engagement from the population is what underpins economic development. Accordingly, instead of focusing on competition, both countries have been enhancing access to banking and financial literacy. Consequently, the advent of open banking has been playing a role in financial inclusion and enhancing economic growth. For instance, India's work on open banking has been focusing on enabling individuals to have a digital entity, with the ultimate goal of streamlining processes and promoting financial inclusion.
