20-Year Financial Inclusion Plan - Milestones, Field Feedback and Monitoring

15 Pages Posted: 5 May 2016

See all articles by Charan Singh

Charan Singh

Indian Institute of Management (IIMB), Bangalore

Date Written: May 5, 2016

Abstract

Financial inclusion is a process that enables improved and better sustainable economic and social development of the country. It focuses on raising the standard of living of the underprivileged people in the society with the objective of making them self-sufficient and well informed to take better financial decisions. Also, it acknowledges the participation of the low income groups based on the extent of their access to financial services in economic growth. India has been working on enhancing financial inclusion since 1955 when State Bank of India was nationalized, followed by more nationalization of banks in 1969 and 1980. A number of focused initiatives have been undertaken since 2005. The paper is forward looking and explores the scenarios in the next 20 years, identifies challenges and makes a few recommendations.

Keywords: Financial inclusion, social security, MUDRA bank, Jan Dhan Yojana

Suggested Citation

Singh, Charan, 20-Year Financial Inclusion Plan - Milestones, Field Feedback and Monitoring (May 5, 2016). IIM Bangalore Research Paper No. 514, Available at SSRN: https://ssrn.com/abstract=2775560 or http://dx.doi.org/10.2139/ssrn.2775560

Charan Singh (Contact Author)

Indian Institute of Management (IIMB), Bangalore ( email )

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