If we look ahead in the short term, most of the innovation will come in the enabling ecosystem being provided by the telecom industry – faster and cheaper data along with cheaper handsets backed up by the universal proliferation of bank accounts. India has over a billion mobile connections with around 240 million Smartphone users and is expected to grow to 520 million by 2020. The National Optical Fiber Network initiative under Digital India will connect 250,000 gram panchayats across rural India and increase adoption of data services. The Pradhan Mantri Jan Dhan Yojana, through 256 million accounts and 195 million cards (as on 23 Nov’16), has provided the infrastructure for universal access to banking.