We analyze the Indian government’s and regulators’ contributions to the principles and practices of financial inclusion in enhancing the poor’s access to financial services in the past and present and suggest future corrective actions. We discover that psychological and business factors are the main obstacles. For the development of an innovative digital market and financial system, there is a need for a strong and dynamic ongoing research-based business model, as well as a sense of sustainability and inclusivity. It will support our interventions in regular financial services, including a payment system with new differential players, at an appropriate scale and size. However, this won’t be effective until strategic financial sector development and growth are integrated with financial inclusion.