Financial Inclusion- Review of Literature-

Article December 2011with217 Reads

1st B .Chandra Mohan Patnaik

11.9 KIIT University

2nd Ipseeta Satpathy

10.68 KIIT University

3rd Aroop Kumar Mahapatra

Abstract
By financial inclusion, we mean delivery of financial services, including banking
services and credit at an affordable cost to the vase section of disadvantage and low
income groups. The various financial services would include access to savings,
loans, insurance, payments and remittance facilities by the formal financial system
to those who tend to be excluded. One of the key financial services that is of
greater relevance here is that of risk management or risk mitigation services vis--
vis economic shocks which may be an income shock via loss of income due to
adverse weather conditions or natural disasters or an expenditure shocks due to
health emergencies or accidents leading to a high level of unexpected expenditure.
In the present paper the researchers tried to make an attempt to know the gap areas
for further research in the topic

Financial Inclusion- Review of Literature-

Article December 2011with217 Reads


1st B .Chandra Mohan Patnaik

11.9 KIIT University

2nd Ipseeta Satpathy

10.68 KIIT University

3rd Aroop Kumar Mahapatra

Abstract
By financial inclusion, we mean delivery of financial services, including banking
services and credit at an affordable cost to the vase section of disadvantage and low
income groups. The various financial services would include access to savings,
loans, insurance, payments and remittance facilities by the formal financial system
to those who tend to be excluded. One of the key financial services that is of
greater relevance here is that of risk management or risk mitigation services vis--
vis economic shocks which may be an income shock via loss of income due to
adverse weather conditions or natural disasters or an expenditure shocks due to
health emergencies or accidents leading to a high level of unexpected expenditure.
In the present paper the researchers tried to make an attempt to know the gap areas
for further research in the topic
lume 3, Issue 6 (June, 2014) Online ISSN-2320-0073 Available online on
www.abhinavjournal.com 28 Published by: Abhinav Publication Abhinav
International Monthly Refereed Journal of Research in Management & Technology
FINANCIAL INCLUSION: CONCEPTS AND OVERVIEW IN INDIAN CONTEXT Shabna
Mol TP Research Scholar, PSMO College, Tirurangadi & Malappuram, Kerala, India
Email: shabnatpk@gmail.com ABSTRACT Financial inclusion plays a major role in
driving a way the poverty from the country. Financial inclusion is delivery of
banking services at an affordable cost to the vast sections of disadvantaged and
low income groups. The main focus of financial inclusion in India is to promote
sustainable development and generating employment in rural areas for the rural
population .Financial inclusion is a critical for achieving inclusive growth in the
country. The objective of this study is to discussed about the conceptual aspects
of financial inclusion, point out the reasons for financial exclusion, highlight the
measures taken by Reserve Bank of India for promoting financial inclusion and
the role of banks towards financial inclusion. The present study is based on
secondary data collected from different publications, journals, and news paper
and websites. Government of India and Reserve Bank of India has taken various
initiatives like opening of no-frills accounts, relaxation on know-yourcustomer
norms, engaging business correspondents for promoting financial inclusion.
Keywords: Financial Inclusion; Inclusive Growth; No Frill Accounts; Knows Your
Customer Norms