World Bank President says reducing cash usage is 'very important' and 'the right thing to do'

'I think anything you can do to promote financial inclusion is very important,' Ajay Banga told Avi Yemini at the 2026 World Economic Forum.

Avi Yemini
  |   January 24, 2026   |   News   |   4 Comments

Article by Rebel News staff

When confronted by Rebel News reporter Avi Yemini at the 2026 World Economic Forum, the president of the World Bank Group, Ajay Banga, defended the shift away from cash as “very important” for bringing people into the financial system and “the right thing to do.” 

“I think anything you can do to promote financial inclusion is very important,” said Banga.

While acknowledging the impossibility of completely removing cash from society, Banga asserted that shifting people away from cash helps them gain access to benefits such as better credit and insurance, and is “the right thing to do.” 

“You cannot get rid of it completely, but the more you can bring people into good financial systems… that’s good for them,” he concluded. 

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Avi Yemini

Chief Australian Correspondent

Avi Yemini is the Australia Bureau Chief for Rebel News. He's a former Israeli Defence Force marksman turned citizen journalist. Avi's most known for getting amongst the action and asking the tough questions in a way that brings a smile to your face.

https://followavi.com/

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  • Bruce Atchison
    commented 2026-01-26 23:27:01 -0500
    It’s all about control. Sure it might be convenient but so is it convenient for livestock to have food brought to them. They stay protected from predators until the farmer takes them to market.
  • Fran G
    commented 2026-01-26 18:35:48 -0500
    bit coin, gold backs when they become available in Canada, gold and silver and of course good old hard cash
  • Paul Scofield
    commented 2026-01-24 18:10:23 -0500
    Like taking the Covid jab? No thanks. Keeping my monetary transactions as analog as possible or as long as possible. Shove your digital currency/social credit nonsense, WEF.
  • Bernhard Jatzeck
    commented 2026-01-24 16:33:37 -0500
    The real reason is to control what one spends one’s money on. Cash is readily negotiable anywhere and no password or verification code is needed to use it. The WEFers don’t like that.