Growth and Trends in Financial Inclusion in India

  • R. Ramu Research Scholar, Department of Economics, Andhra University
  • K. Murali Research Scholar, Department of Economics, Andhra University
  • G. Nagaraja Professor, Department of Economics, Andhra University
Keywords: Financial Inclusion, IMF, Financial Services, Reserve Bank, Inclusive Growth

Abstract

Only through the proper mechanisms that distribute all resources from top to bottom can inclusive growth be achieved. Because India has the world’s largest rural population, the area of financial inclusion is novel that uses various approaches to improve rural people’s banking habits. Financial inclusion aims to facilitate financial services, banking facilities to all people at an accessible cost in an indifferent, clear, and horizontal manner. Low-income families have low access to bank accounts, must spend time, money on several visits to obtain banking services, similarly the opening a savings bank account or applying for a loan. In this connection, many rural families find it challenge to save and prepare financial security for future. The present paper tried to explain how much to awareness of financial inclusion and financial literacy in India.

Published
2022-03-19
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