A CASE STUDY ON INCREASE IN FINANCIAL INCLUSION LEADS TO DEVELOPMENT OF BANKS IN INDIA

Even after 72 years of independence, a large section of Indian population still remains unbanked. This restlessness has led generation of financial instability and necessity among the lower income group who do not have access to financial products and services. However, in the recent years the government and Reserve Bank of India has been pushing the concept and idea of financial inclusion. Financial inclusion or inclusive financing is the delivery of financial services at affordable cost to socially deprived and low-income segments of society. Financial inclusion is a critical step that requires political will, bureaucratic support and determined persuasion by RBI. It is expected to unleash the hugely untapped potential of that section of Indian economy, which is at the bottom of pyramid. Financial Inclusion will be the next revolution for growth and prosperity in Indian economy.