EVALUATION AND ANALYSIS OF FINANCIAL INCLUSION IN INDIA

  • Dr. S.A. Nimbalkar

Abstract

Financial inclusion is one of the most important word mostly are used in banking sector with a view to demonstrate or reveled involvement of that individual those are belongs to rural area in Indian economy. Its always considered as parameters to known about the inclusion of those groups of people from specific community in India regarding involvement in financial activities. As per the observations more than 150 million poor people have access to collateral-free loans. However; there are still large sections of the world population that are excluded from the financial services market. In India half of the poor are financially excluded from the country's main stream of the banking sector. Still in India 22 percent of the people are living below the poverty line. Their monthly income is less than $1 per day and they are living in most un-livable conditions. In India, growth with equity has been the central objective right from the inception of the planning process. The eleventh Five year plan (2007-12) re-emphasized the need for a more inclusive growth in order to ensure that the per capita income growth is broad- based. More and more Indian companies are trying to enter in the list of fortune 500 and one of our Indian entrepreneurs appears in the list of the top five richest persons of the world. The paper discuss about tackling this disparity between people by ways of financial inclusion through micro finance models and it also analyses how that leads to the economic development of a country.

Published
2020-01-11
Section
Articles