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Financial Inclusion in India: An Analysis
Corresponding Author(s) : Seema Rani
American Journal of Economics and Business Management,
Vol. 5 No. 4 (2022): American Journal of Economics and Business Management
Abstract
Financial inclusion is the recent concept which helps to achieve the sustainable development of the country, through available financial services to the unreached people with the help of financial institutions. Financial inclusion can be defined as easy aces to formal financial services or systems and their usage by all members of the economy. These members include government, banks, private and social sector. Financial Inclusion is described as the method of offering banking and financial solutions and services to every individual in the society without any form of discrimination. It primarily aims to include everybody in the society by giving them basic financial services without looking at a person’s income or savings. Financial inclusion chiefly focuses on providing reliable financial solutions to the economically underprivileged sections of the society without having any unfair treatment. It intends to provide financial solutions without any signs of inequality. It is also committed to being transparent while offering financial assistance without any hidden transactions or costs. This paper helps in studying the present scenario of Financial Inclusion in India, and the various efforts and initiatives taken by the RBI, GOI and other banking institutions towards it.
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- Thorat Usha, (2007), Financial Inclusion- The Indian experience, HMT- DFID, Financial Inclusion conference 2007, London.
- Pawar Ganesh, joshi,Chandra Deepak, 2008, Inclusive Growth- Role of banks and credit providers in the economy and credit delivery models.
- Government to open 50mn bank accounts in villages, BS reporter, New Delhi, February 8, 2011.
- Evaluation of 100% financial inclusion in Himanchal Pradesh & two district of Punjab, (2010) University Business School, Punjab University, Chandigarh.
- Pratima Trivedi, “Financial Inclusion: A Must for Financial Stability”, Vinimaya, Vol.XXIX (2), 2008-09, Pp.59-64.
- Devaki Muthukrishnan, “Financial Inclusion”, The Journal of Indian Institute of Banking and Finance, April-June 2008, Pp.30-33.
- Gadewar, A.U, “Financial Inclusion: Issues and Challenges”, Vinimaya, Vol.XXVII (4), 2006-07, Pp.49-56.
- “Banks Back RBI’s Inclusion Plan with no Frills Account”, Business Standard, December 30, 2005.
- Nair, M.V., “RBI Policy Reiterates Stress on Financial Inclusion”, The Financial Express, April 19, 2006.
- Mahendra Dev.S. (2006), “Financial Inclusion – Issues and Challenges”, Economic and Political Weekly, Vol.41 (41), October 14-October 20, 2006.
- Rangarajan, C. (2007), “Financial Inclusion – Some Key Issues”, Lecture delivered at Mangalore University, Mangalore, August 10, 2007.
- Rakesh Mohan, (2006), “Economic Growth, Financial Deepening and Financial Inclusion”, Address by Dr.Rakesh Mohan at the Annual Bankers’ Conference 2006, at Hyderabad on November 3, 2006. .
- Sujatha, B (2009), “Financial Inclusion Concepts and Strategies”, ICFAI
- Sameer Kochal (2009), “Financial Inclusion”, Eastern Book Corporation, New Delhi
- www.rbi.org.in
- www.iibf.org.in
- www.inclusion.in
- http:/pfrda.org
- www.oecd.org
- www.nabard.org
- www.toostep.com
References
Thorat Usha, (2007), Financial Inclusion- The Indian experience, HMT- DFID, Financial Inclusion conference 2007, London.
Pawar Ganesh, joshi,Chandra Deepak, 2008, Inclusive Growth- Role of banks and credit providers in the economy and credit delivery models.
Government to open 50mn bank accounts in villages, BS reporter, New Delhi, February 8, 2011.
Evaluation of 100% financial inclusion in Himanchal Pradesh & two district of Punjab, (2010) University Business School, Punjab University, Chandigarh.
Pratima Trivedi, “Financial Inclusion: A Must for Financial Stability”, Vinimaya, Vol.XXIX (2), 2008-09, Pp.59-64.
Devaki Muthukrishnan, “Financial Inclusion”, The Journal of Indian Institute of Banking and Finance, April-June 2008, Pp.30-33.
Gadewar, A.U, “Financial Inclusion: Issues and Challenges”, Vinimaya, Vol.XXVII (4), 2006-07, Pp.49-56.
“Banks Back RBI’s Inclusion Plan with no Frills Account”, Business Standard, December 30, 2005.
Nair, M.V., “RBI Policy Reiterates Stress on Financial Inclusion”, The Financial Express, April 19, 2006.
Mahendra Dev.S. (2006), “Financial Inclusion – Issues and Challenges”, Economic and Political Weekly, Vol.41 (41), October 14-October 20, 2006.
Rangarajan, C. (2007), “Financial Inclusion – Some Key Issues”, Lecture delivered at Mangalore University, Mangalore, August 10, 2007.
Rakesh Mohan, (2006), “Economic Growth, Financial Deepening and Financial Inclusion”, Address by Dr.Rakesh Mohan at the Annual Bankers’ Conference 2006, at Hyderabad on November 3, 2006. .
Sujatha, B (2009), “Financial Inclusion Concepts and Strategies”, ICFAI
Sameer Kochal (2009), “Financial Inclusion”, Eastern Book Corporation, New Delhi
www.rbi.org.in
www.iibf.org.in
www.inclusion.in
http:/pfrda.org
www.oecd.org
www.nabard.org
www.toostep.com