Financial Inclusion - A Path towards India's Future Economic Growth

Financial Inclusion - A Path towards India's Future Economic Growth

Though our country's economy is growing around 9 percent, still the growth is not inclusive with the economic condition of the people in rural areas worsening further. One of the typical reasons for poverty is being financially excluded. Though there are few people who are enjoying all kinds of services from savings to net banking, but still in our country around 40% of people lack access to even basic financial services like savings, credit and insurance facilities. So an inclusive sector should not only serve the bankable clients, but also integrate the unbankable clients by making them bankable. Many actions taken by the government like Nationalizing of Banks, 40% of credit targets to priority sector, opening of RRBs and LABs, etc for past three decades are one form of financial inclusion, but still around 80% of rural households do not have access to credit from a formal source. So as a last door step to Financial Inclusion, RBI came up with an initiative of launching National pilot project on Financial Inclusion in Puducherry in 2005. The specialty of this Financial Inclusion project is that accounts are opened by the bank officials at the doorsteps of households without insisting on any minimum balance or deposits. Let us analyze in depth that whether bringing people under banking category by this financial inclusion project helps in achieving the ultimate goal of lifting the standard of living of The Poor and reduce poverty in our country.


Author
Publisher
Release Date
ISBN
Pages 30 pages
Rating 4/5 (24 users)
Read More

More Books:

Financial Inclusion - A Path towards India's Future Economic Growth
Language: en
Pages: 30
Authors: Dr. Krishnamurthy Ravichandran
Categories:
Type: BOOK - Published: 2009 - Publisher:

Though our country's economy is growing around 9 percent, still the growth is not inclusive with the economic condition of the people in rural areas worsening f
Current Status of Financial Inclsuion Among Rural Households in A.P.
Language: en
Pages: 304
Authors: NAGESWARA RAO DARA
Categories:
Type: BOOK - Published: 2014-02 - Publisher: LAP Lambert Academic Publishing

My Research studies contribute to know the status of financial inclusion among rural households that helps fill some of the gaps in knowledge about financial in
Rural Finance for Food Security for the Poor
Language: en
Pages: 139
Authors: Manfred Zeller
Categories: Technology & Engineering
Type: BOOK - Published: 1997-01-01 - Publisher: Intl Food Policy Res Inst

A broader role for rural finance for food security. The saving and borrowing behavior of the food-insecure poor. Innovative rural finance for the poor: a food s
Infrastructure, Urbanization, and the Financial Inclusion of Chinese Households
Language: en
Pages: 36
Authors: Angela Lyons
Categories:
Type: BOOK - Published: 2017 - Publisher:

Financial inclusion plays an important role in giving households greater access to borrowing opportunities, which in turn can be used to improve human capital a
Low-income Households' Access to Financial Services
Language: en
Pages: 36
Authors: Nimal Fernando
Categories: Banks and banking, Cooperative
Type: BOOK - Published: 2007 - Publisher:

Inequality in China – Trends, Drivers and Policy Remedies
Language: en
Pages: 31
Authors: Ms.Sonali Jain-Chandra
Categories: Business & Economics
Type: BOOK - Published: 2018-06-05 - Publisher: International Monetary Fund

China has experienced rapid economic growth over the past two decades and is on the brink of eradicating poverty. However, income inequality increased sharply f
Financial Inclusion of Small Rural Producers
Language: en
Pages: 192
Authors: Francisco G. Villarreal
Categories: Political Science
Type: BOOK - Published: 2017 - Publisher:

There is mounting empirical evidence that the responsible provision and use of formal financial services have a positive impact on household well-being and ente
Banking the World
Language: en
Pages: 520
Authors: Robert Cull
Categories: Business & Economics
Type: BOOK - Published: 2021-08-03 - Publisher: MIT Press

Experts report on the latest research on extending access to financial services to the 2.5 billion adults around the world who lack it. About 2.5 billion adults
FINANCIAL INCLUSION IN INDIA
Language: en
Pages:
Authors: DR.S.V. SHINDE
Categories:
Type: BOOK - Published: - Publisher: Lulu.com

Role of ICT in Higher Education
Language: en
Pages: 442
Authors: Gopal Singh Latwal
Categories: Business & Economics
Type: BOOK - Published: 2020-11-17 - Publisher: CRC Press

This new volume provides an informative collection of chapters on ICT and data analytics in education, helping to lead the digital revolution in higher educatio