The financial inclusion in Indian banking sector opportunities and challenges
Financial inclusion, issues and challenges, Government schemes and initiatives
THE FINANCIAL INCLUSION IN INDIAN BANKING SECTOR OPPORTUNITIES AND CHALLENGES *Smt. Savita Patil Asst. Prof. in Commerce and Management Government First Grade College Kamalapur Dist. Kalaburagi-585-313, Karnataka E-mail Id: savitaragupatil@gmail.com Contact No 9481540621 ABSTRACT Financial inclusion is one of the platforms which help people to involve and participate in financial services with equal opportunity. There are many poor households in India that do not have any access to financial services in the country. They are not aware of banks and their functions. Even if they are aware of banks, many poor people do not have the access to get services from banks. Financial inclusion aims to eliminate the barriers and provide economically priced financial services to the less fortunate sections of society so that they can be financially independent without depending on charity or other means of getting funds that are actually not sustainable. Financial inclusion also intends to spread awareness about financial services and financial management among people in society. Moreover, it wants to develop formal and systematic credit avenues for poor people. Financial inclusion is recognized as a process that marks an improvement in the quantity, quality, and efficiency of financial intermediaries which helps improve lives, foster opportunities and strengthen economies. Financial inclusion provides opportunities for the banking sector to cut across various strata of society, regions, gender, and income and encourage the public to embrace banking habits. Reserve Bank of India has intervened for the success of financial inclusion by introducing various enactments, financial literacy drives, leveraging technology, etc. This paper attempts to examine the financial inclusion, opportunities and challenges, various initiatives taken by the Government of India for growth and sustainability, and financial inclusion from a global perspective. Key words: Financial inclusion, issues and challenges, Government schemes and initiatives.
"The financial inclusion in Indian banking sector opportunities and challenges", IJSDR - International Journal of Scientific Development and Research (www.IJSDR.org), ISSN:2455-2631, Vol.8, Issue 7, page no.117 - 120, July-2023, Available :https://ijsdr.org/papers/IJSDR2307016.pdf
Volume 8
Issue 7,
July-2023
Pages : 117 - 120
Paper Reg. ID: IJSDR_207572
Published Paper Id: IJSDR2307016
Downloads: 000347368
Research Area: Commerce
Country: kalaburagi, Karnataka, India
ISSN: 2455-2631 | IMPACT FACTOR: 9.15 Calculated By Google Scholar | ESTD YEAR: 2016
An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 9.15 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator
Publisher: IJSDR(IJ Publication) Janvi Wave
