Role of Commercial Banks in Achieving Financial Inclusion – A Comparative Study of Canara Bank and Corporation Bank
Studies in Indian Place Names
11 Pages Posted: 5 May 2021
Date Written: march 0, 2020
Financial inclusion has become one amongst the vital aspects within the context of inclusive growth and sustainable development. It helps to scale back the income disparity and poverty alleviation. Financial Inclusion is the process of ensuring access to appropriate financial products and services needed by vulnerable groups like fragile sections and low-income groups at a reasonable charge in a just and pellucid manner by mainstream institutional players. In India, Reserve Bank of India formulates various financial inclusion programs with a view to supply financial services to the deprived class of the nation. Commercial banks play key role in implementation of financial inclusion plans under the guidance of RBI. The present study focuses on financial inclusion through commercial banks namely Canara bank and Corporation bank. The paper discuses basics of financial inclusion and financial inclusion policy initiatives in India. The study attempts to collate the contributions of Canara bank and Corporation bank in financial inclusion. Objectives of the study are to know the financial inclusion policy initiatives in India and to compare the contributions of Canara bank and Corporation bank in achieving financial inclusion. This research relies mainly on secondary data and required data are collected from the annual reports of the banks and RBI website. The information has been analysed using various statistical tools and hypothesis is tested by using t-test. Finally, efforts are made to supply recommendations supported findings.
Keywords: Financial inclusion, RBI, Canara bank, Corporation bank.
JEL Classification: G21,E58,
Suggested Citation: Suggested Citation