Financial Inclusion in India Status, Determinants and Roadmap

Abstract

Financial inclusion, as the name suggests, is a process ensuring access to financial services to the weaker sections of the society at affordable cost. It is very important in a country like India where millions of people at the grass roots level suffer from poverty, hunger and illiteracy. Agriculture is the main source of income for most of the people living in rural areas. But of late, agriculture has become un-remunerative. Given a chance, many farmers are ready to quit agriculture.