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Financial Inclusion Essay

1203 Words5 Pages

Abstract: The objective of this paper is to find an initiatives taken by the government for financial inclusion for all sections of the society. This paper deals with study of various financial initiatives taken which have come from the financial regulators, the governments and the banking industry.

Keywords: Financial Inclusion, Financial initiatives, Jan Dhan Yojana

Introduction
Financial inclusion is one of the most important aspects in the present scenario for inclusive growth and development of economies. According to committee on Financial inclusion headed by Dr. C. Rangarajan defined financial inclusion as “The process of ensuring access to financial services and timely and adequate credit where needed by vulnerable groups such as …show more content…

Initiatives for financial inclusion have come from the financial regulators, the governments and the banking industry. While the banking sector has taken several steps to promote financial inclusion, legislative measures have also been initiated in some countries.

Financial Inclusion Plan
India has launched more Yojana schemes but this is the scheme launched by our prime minister on independence day meeting in 15 aug 2014. Under this new scheme every family living in india.
PRADHAN MANTRI JAN DHAN YOJANA SCHEME
It is a new scheme announced in india that every family will have zero balance accounts. It will not provide families in india to have an account and it has various offers and benefits to the society. And this is useful for bringing economic equality in india.
Pradhan Mantri Jan-Dhan Yojana (PMJDY) is National Mission for Financial Inclusion to ensure access to financial services, namely, Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable

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