Analysis of Financial inclusion by commercial bank in India
Dr. Namita srivastava
Financial inclusion is aimed at providing banking and financial services to all people in a fair, transparent and equitable manner at affordable cost. Households with low income often lack access to bank account and have to spend time and money for multiple visits to avail the banking services, be it opening a savings bank account or availing a loan. These families find it more difficult to save and to plan financially for the future. Thus, the unbanked public is largely cut off from the Banking products/services. It is the endeavor of the Bank to provide the basic banking facility of SB a/c‘s to all the unbanked. Towards this initiative the Banks has taken the lead and evolved two different models i.e. Rural and Urban Financial Inclusion Model to take care of the requirement of the people in rural and urban areas which differ from each other. The present paper aim at identifying the awareness of the new measures of financial inclusion by the people and status of financial inclusion in commercial banks.