An Overview Of Financial Inclusion In India

Abstract

Financial Inclusion refers to worldwide access to a wide variety of financial services at a moderate cost. Financial Inclusion includes financial services such as equity products and insurance along with various banking products. Financial inclusion facilitates improved sustainable economic and social development of the country. It encouraged the empowerment of the deprived poor and women section of society with the objective of making themselves-sustained and acquainted to take sound financial decisions.

Financial inclusion is globally measured as a critical benchmark of the development and prosperity of society. Financial Inclusion refers to making financial services accessible to everyone ataffordable costs. This phenomenon is accepted and experienced by developed as well as underdeveloped countries. Recent inducements taken by the government in Indiain this regard have made some significant development.

The motive of financial inclusion is comforting access to financial services for every individual regardless of their geographic and demographic structure. This paper includes the challenges and issues of financial inclusion in India.