Volume : V, Issue : VIII, August - 2015

FINANCIAL INCLUSION–AN OVERVIEW

Manjit Kaur

Abstract :

Economic growth and development is directly linked to financial intermediation and access to formal financial system. Financial development helps eradicating poverty by inducing savings and credit facilities to the poor. Number of studies reveal that financial exclusion i.e. lack of access to financial services restricts growth and development. So inclusive growth is advocated and visualized through financial inclusion. On review of the existing literature it is observed that as of now a considerable success has been achieved as access to formal banking is concerned. The present paper attempts to present an overview of efforts towards ensuring financial inclusion during last 10 years. The study is based on secondary data collected from various websites such as official website of RBI, Department of Financial Services & PMJDY and journals and newspapers. The study attempts to highlight the demand and supply side boosters of financial inclusion as infused by Government of India and Reserve Bank of India. The study reveals that Jan–Dhan Account is to be made strongest link to ensure the success of PMJDY (Financial Inclusion Plan).

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Article: Download PDF   DOI : 10.36106/ijar  

Cite This Article:

MANJIT KAUR Financial Inclusion-An Overview Indian Journal of Applied Research, Vol.5, Issue : 8 August 2015

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