Rural Perspective towards Financial Inclusion

Financial Inclusion or inclusive financing is the delivery of financial services at affordable costs to sections of disadvantaged and low-income segments of society, in contrast to financial exclusion where those services are not available or affordable. For the purpose of giving such financial serv...

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Bibliographic Details
Published in:Journal of Economic and Social Thought 2015-06, Vol.2 (2), p.106
Main Authors: Selvakumar MARIMUTHU, MATHAN, Jacob, sathyalakshmi VELUSAMY
Format: Article
Language:English
Subjects:
Financial inclusion
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Summary:Financial Inclusion or inclusive financing is the delivery of financial services at affordable costs to sections of disadvantaged and low-income segments of society, in contrast to financial exclusion where those services are not available or affordable. For the purpose of giving such financial services in easy and convenient way government has developed many financial plans in the rural areas. These plans are helpful for people who want to access financial services. The availability of banking and payment services to the entire population without discrimination is the prime objective of this public policy. Thus the term Financial Inclusion can be defined as the process of ensuring access to financial services and timely and adequate credit where needed by vulnerable groups such as weaker sections and low income groups at an affordable cost. The nations should takeover and remedy to reach the financial services to the weaker sections. So, this study has been undertaken to analyse the prospects of financial inclusion in rural areas.
ISSN:2149-0422
2149-0422
DOI:10.1453/jest.v2i2.277