Financial Inclusion

Introduction
? Meaning:

Financial Inclusion
is the delivery of banking
services at low-priced costs to
vast
sections
of
disadvantaged
and
low
income
groups
including
ho practice sessionholds,
enterprises,
SMEs, traders.

Indian Scenario
?

Around 50% of the Indian cosmos suffers
from chronic poverty and hunger. Only 31
% of the Indian population has accsess to
Banking services. The rilievo 69 % ar still
deprived of bare minimum banking services
for which they are totally dependent on
informal banking sources like private money
lenders. duration the contract in to solve this
mammoth problem is great, we are unable
to stretchability large numbers of the poor with
products, services and information they
need to achieve financial security.

Aim
?

Our national vision for 2020 is to decipherable
nearly 600 cardinal new customers accounts
and service them through a variety of
carry by leveraging on IT. However,
illiteracy and the low income savings and
lack of bank branches in rural areas
continue to be a road block to financial
inclusion in umpteen states. To achieve this
objective commercial banks have started a
drive to open branches in hitherto
unbanked areas.

Steps
?

It can be said that Bank communisation was
first step towards Financial Inclusion in India.





?

RRBs were created to take banking services
to rural people.

?

Public Sector banks are making use of the
services of non-governmental organizations
(NGOs/SHGs), micro-finance institutions and
other
civil
society
organizations
as
intermediaries for providing financial and
banking services. These intermediaries are
being used as duty facilitators (BF) or
business correspondents (BC) by commercial
banks.

?

With a view to achieve perform Financial
Inclusion our bank has introduced no-frills
banking account viz PNB Mitra account.
An overdraft adroitness of Rs 100 to 500 is
available abinitio. PNB has also launched
mobile ATMs to apprehend unbanked rural...If you want to get a full essay, order it on our website: Orderessay



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