A Study on Financial Inclusion in India

A Study on Financial Inclusion in India

Author Name : B. Sravanthi

Financial inclusion aims at drawing the unbanked populationinto the formal financial system so that they can have the opportunity to access financial servicesranging from savings, payments, and transfers to credit and insurance. this articleshows theinitiatives taken by the government such as schemes and the factors that affect financial inclusion and the role of the RBI and the schemes which highly helped the improvement of financial inclusion.The issue of financial inclusion is a development policy in many countries like India Financial inclusion is increasingly being recognized as a key driver of economic growth and poverty alleviation the world over. Access to formal finance can boost job creation, reduce vulnerability to economic shocks and increase investments in human capital. Keywords: Financial inclusion, schemes