Role of financial inclusion in enlightening Indian financial system Dr. Vani laturkar and Miss. Jaya Muley School of Management Sciences, Swami Ramanand Teerth Marathawada University, Nanded --------------------------------------------------------------------------------------- Abstract: Now-a-days the topic of financial inclusion is standing as an emerging new model of economic intensification. Financial
Abstract-Inclusive growth is much needed to include common people into the orbit of development. Social and economic justice can be provided only with the inclusion of hitherto excluded deprived section of people. Lot of measures was undertaken by the Government of India and Reserve bank of India together to mitigate the problem of financial exclusion. It leads to particularly, development of all sections of people. To achieve this multi-model approach was adapted. Service Area approach, priority
well-functioning financial system, by creating identical opportunities, enables economically and socially excluded people to integrate better into the economy, so as to actively contribute to development and protect themselves against economic shocks. The role of the financial system is to gather or pool money from people and businesses that have more than they need currently and transmit those funds to those who can use them for either consumption or investment.
has defined financial inclusion as “the process of ensuring access to appropriate financial products and services needed by all sections of the society in general and vulnerable groups such as weaker sections and low income groups in particular at an affordable cost in a fair and transparent manner by mainstream institutional players” (Joshi 2014). Financial inclusion also includes the broadening of financial services to those people who do not have access, the deepening of financial services for
A Term Paper On ________________________________________ PRADHAN MANTRI JAN DHAN YOJNA NATIONAL MISSION ON FINANCIAL INCLUSION ________________________________________ In Partial Fulfillment of the Requirements for the Award of the Degree of Bachelor of Arts in Economics Submitted to: Submitted by: MS. SHIVANI JASWAL Sarthak Mittal
material and Internet material. Literature review Even the Government of India framed a committee under the leadership of Dr.C R Ranagarajan to look into the exclusion reason across for financial services, gender and occupation so that the corrective action can be taken for the excluded class. The committee defined financial inclusion as” Financial Inclusion is the process of ensuring access to appropriate financial products and Services needed by all sections of the society in general
1.1 Research Background Financial inclusion has been a topic of recent concern in many countries, both developed and undeveloped. Broadly, financial inclusion is defined as individuals and businesses have access to useful and affordable financial products and services that meet their needs transactions, payments, savings, credit and insurance delivered in a responsible and sustainable way (Swamy, 2014). In its most basic definition, financial inclusion refers to the fact that a person owns an account
commercial bank in India, which was founded in 1925. The government of India nationalized Syndicate Bank on 19 July, 1969. Syndicate bank has long been a pioneer of development in India. It has played a developmental role in empowering women entrepreneurs, supporting the micro, medium and small enterprises sector, providing agricultural assistance in the form of policies and incentives and encouraging rural development. In this project, we will be focusing upon the developmental role of Syndicate bank
ABSTRACT In a country like India where 70 percent of its population lives in rural area and 60 percent depend on agriculture (according to the World Bank reports), micro-finance can play a vital role in providing financial services to the poor and low income individuals. Microfinance is the form of a broad range of financial services such as deposits, loans, payment services, money transfers, insurance, savings, micro-credit etc. to the poor and low income individuals. The importance of micro-finance
internet banking, and children accounts, women oriented banking, youth oriented accounts, interest free banking and, the latest arrival in the scene being agency banking. The growth in digital technologies and consumers’ embrace of connectivity means financial institutions no longer need to open branches to attract or retain