Causes and Costs of Financial Inclusion in India

Sweta Goel, Amit Goel

Abstract


Causes and Costs of Financial Inclusion in India

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The growth of the economy is dependent on the inclusive growth of all the parts of the country, be it rural or urban. The availability of quality financial product and services is extremely important for the growth of the economy. Therefore greater financial inclusion in poorer and bottom of the pyramid segments is imperative. Financial inclusion can lead to equitable and inclusive growth of the nation. Therefore, it is a high agenda for Government of India and Reserve Bank of India. The present study focuses on understanding and analyzing the extent of financial inclusion on the basis of its indicators. Therefore, we examine the key issues in financial inclusion/ exclusion and discuss the conceptual framework and issues related to the measurement of financial exclusion. The extent causes and costs of financial exclusion are conferred and some suggestions for improving the state of financial inclusion are given.




DOI: https://doi.org/10.5296/jmr.v11i1.14192

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