A Data-Driven Study of Financial Inclusion Initiatives and Inclusive Development

Abstract

Financial literacy and inclusion are said to be crucial pillars of robust economy. Financial inclusion emphasizes on expansion of financial services to people belonging to different classes. Financial inclusion has resulted in expansion of financial services to people belonging to different classes and financial literacy works for generating demand for services that are a part of demand side. Financial inclusion provides information to people about financial services and they even go beyond just offering bank and credit accounts. The main aim of financial inclusion is to ensure that the communities that are vulnerable get access towards broader range of financial services. The study is based on secondary data and data has been extracted from published sources like government websites, Journals, other websites etc. The study aims to evaluate the need of financial inclusion in India, identify strategies used to develop financial inclusion in India and analyze key initiatives for Financial Inclusion. There are different government schemes which have been introduced by the government for supporting financial inclusion. Detailed information about the schemes and their current status has been discussed in the study.