JJEM: Special Edition 1 (December 2023)
JJEM: Special Edition 1 (December 2023)
2023-12-08
An Overview Financial Inclusion
Dr. Ganeshappa. K and Mohan. D
The concept of financial inclusion is an innovative and important not only in National level but also in the world level for improving living and economic status of downtrodden people, rural non-form enterprise and different segment of the society. Financial inclusion means providing financial benefits at affordable costs to the weaker sections and neglected groups of the society. The aim of financial inclusion is to provide monetary assistance to the needed people who could not access financial assistance from the formal financial institutions. It can be success by giving financial literacy and credit mechanism should be strengthened, thereby, improve the financial condition of the beneficiaries and in turn they become financially independent for their growth in the area of socio-economic. The paper sketches an overview of financial inclusion and vitality for societal and improve the economic condition of the society. The paper emphasized to understand the financial inclusion concept and to study the guidelines issued by the Government and RBI to implement the programme. The ultimate aim of the Government is to promoting banking habits by the poor sections of the society by providing necessary financial services and reduces the different classes of the society in terms of economic condition of the society.
Financial inclusion, financial services, weaker sections,financial literacy,credit mechanism, economic development, poor sections