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INTERNATIONAL JOURNAL OF SCIENTIFIC DEVELOPMENT AND RESEARCH International Peer Reviewed & Refereed Journals, Open Access Journal ISSN Approved Journal No: 2455-2631 | Impact factor: 8.15 | ESTD Year: 2016 open access , Peer-reviewed, and Refereed Journals, Impact factor 8.15 |
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| Paper Title: | The financial inclusion in Indian banking sector opportunities and challenges |
| Authors Name: | Savita Patil |
| Unique Id: | IJSDR2307016 |
| Published In: | Volume 8 Issue 7, July-2023 |
| Abstract: | 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. |
| Keywords: | Financial inclusion, issues and challenges, Government schemes and initiatives |
| Cite Article: | "The financial inclusion in Indian banking sector opportunities and challenges", International Journal of Science & Engineering Development Research (www.ijsdr.org), ISSN:2455-2631, Vol.8, Issue 7, page no.117 - 120, July-2023, Available :http://www.ijsdr.org/papers/IJSDR2307016.pdf |
| Downloads: | 000338536 |
| Publication Details: | Published Paper ID: IJSDR2307016 Registration ID:207572 Published In: Volume 8 Issue 7, July-2023 DOI (Digital Object Identifier): Page No: 117 - 120 Publisher: IJSDR | www.ijsdr.org ISSN Number: 2455-2631 |
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