Role of Private Sector Banks for Financial Inclusion

Anjum, B., Tiwari, R. (2012), Role of private sector banks for financial inclusion, Zenith International Journal of Multidisciplinary Research, 2(1), 270-280.

11 Pages Posted: 3 May 2021

See all articles by Bimal Anjum

Bimal Anjum

DAV College

Rajesh Tiwari

United College of Education

Date Written: January 31, 2012

Abstract

The article explores the geographical distribution of private sector banks in India and its impact on financial inclusion. The article evaluates the correlation of number of private bank branches with economic freedom and ratio of development expenditure of states to gross state domestic product. At end March 2010, 50.6 million no frills account were opened by the banking system. The banks have a challenge to keep these accounts operational. Banks were advised to provide small overdraft in these accounts, and up to March 2010 banks provided overdraft of Rs. 27.54 crore. No frills account provides the opportunity for a common man to open bank account. These accounts have no pre condition and low minimum balance maintenance. RBI initiated scheme of no frills account in 2005 to improve financial inclusion.

Keywords: Financial Inclusion, Gross State Domestic Product, No Frills Account

JEL Classification: G21

Suggested Citation

Anjum, Bimal and Tiwari, Rajesh, Role of Private Sector Banks for Financial Inclusion (January 31, 2012). Anjum, B., Tiwari, R. (2012), Role of private sector banks for financial inclusion, Zenith International Journal of Multidisciplinary Research, 2(1), 270-280., Available at SSRN: https://ssrn.com/abstract=3833463

Bimal Anjum

DAV College

Sector 10 D
Chandigarh, 160011
India

Rajesh Tiwari (Contact Author)

United College of Education ( email )

Greater Noida
India

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