Financial Inclusion An Emerging New Model Of Economic...

Abstract: Now-a-days the topic of financial inclusion is standing as an emerging new model of economic intensification. Financial inclusion is the recent notion which helps to accomplish the sustainable progress of the country, through accessible financial services to the unreached people with the help of financial institutions. Thus it plays a vital role in economic development of the country, by helping in pouring away poverty from the country. The main aim of financial inclusion is to make available banking service by providing access to financial market, credit market and gain knowledge of financial matters. Thus it aims is to provide banking and financial services to all people in a fair, transparent and equitable manner at affordable cost. Reserve bank of India and government plays a key role in promoting financial inclusion for economic development in the country by deepening the penetration of banking, making the banks nationalized, by RRBs establishment, introducing the approach of on e person one account and also by launching the self help groups (SHG). Simplifying the KYC norms, interest rates improvisation and providing easy access to credit facilities are some of the key steps taken to strength the process of financial inclusion. The present paper studies the significance of financial inclusion in the economic development of the country. It also attempts to study the coverage of financial inclusion in India, along with its experience gathered by making studiesShow MoreRelatedAn Organizing Framework For Interprofessional Global Health Education6446 Words   |  26 Pagesglobalization, (b) culture; (c) global health law, (d) economics and trade, (e) health care systems, (f) global health actors and diplomacy, (g) injuries and disaster (natural and man-made), (h) global health ethics, and (i) technology. Each environmental force and its relevance to global health will be described. Globalization. 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