FINANCIAL INCLUSION STATUS: AN APPRAISAL, WITH SPECIAL REFERENCE TO THE STATE OF ASSAM

India is the second most populous country after China and one of the fastest growing economies of the world. The present population of India is more than 600 million; however the population assessing banking services is merely 200 million only. Studies found that among 55 countries India stands 29th in FINANCIAL INCLUSION INDEX. Reports also stated that 45.9 million farmer households do not have access to credit either from an institutional or non institutional source. The report also stressed on poverty as one of the major cause of exclusion. Researchers have argued that financial inclusion has a positive impact on various socio economic indicators. It has a positive impact on the growth and development of a country. A higher level of financial inclusion indicates a high level of employment and low level of poverty. Besides, it also leads towards reducing the inequalities among the population. It allows the poor to access credit without having collateral and credit history etc. There are substantial literatures which endorses the positive impact of financial inclusion on the lives of the population. The objective of the study is to explore the status of financial inclusion of India vis-à-vis Assam and the North Eastern Region of India. The study is descriptive in nature.