Published Paper Details:

Financial Inclusion is defined as the process of proper access of financial services and timely and adequate facilities required by needy sections of the society at the minimum cost in a effective and transparent manner and eradication of rural social and individual financial exclusion. The objective of financial inclusion exercise is easy availability of financial services which allows maximum investment in agriculture, business opportunities, education, health, insurance against risks, use of technology etc. by the rural individuals. There have been many formidable challenges in financial inclusion area such as bridging the gap between the sections of society that are financially excluded and the ambit of the formal financial system, providing financial literacy and strengthening credit delivery mechanisms so as to improvised the financial economic growth. The major activities include formulation of schemes for financial literacy, knowledge dissemination, creation of infrastructure, facilitating technology adoption by banks and policy advocacy. For this reason, government and financial institutions like banks etc. play the vital role in the developments of rural sector of Indian economy. As the majority of the rural population is still not included in the inclusive growth, the concept of financial inclusion becomes a challenge for the Indian economy. In rural areas revolutionary steps have been taking place by the government through welfare and developemental schemes.