Review Paper on Financial Inclusion – The Path of Inclusive Growth | Original Article

ABSTRACT:

Financial inclusion plays a very important role in inclusive growth of the country. It is estimated that around 2.5 billion people are globally excluded from accessing financial services and that too one third is in India. It is very important to provide quality financial services in rural areas for the growth of the economy and the growth of the economy is totally dependent on the growth of the rural markets of the country. Therefore a greater financial inclusion in these segments is essential. The main objective of this study is to review various papers on how financial inclusion serves as a way of inclusive growth and also study the initiatives taken by the Government and Reserve Bank of India for the growth of financial inclusion in the country. This study is based on secondary data. The government should conduct awareness programmes through banks to adopt financial inclusion by means of financial assistance, advertisement, awareness program, financial literacy, etc.