EMPIRICAL PAPER ON FINANCIAL INCLUSION: DOES MOBILE BANKING INCREASE FINANCIAL INCLUSION IN TERMS OF THE NUMBER OF PEOPLE AVAILING BANK SERVICES? (ESPECIALLY WITH RESPECT TO CREDIT SERVICES)

In this increasingly competitive global era, financial inclusion is emerging as a new paradigm of economic growth that plays a vital role in driving away the problems of the country. This process helps in delivering the banking service to the people in mass, considering their advantages and privilege at an affordable cost. Nowadays, financial inclusion is considered as the essential service and precedence of the state's development of the economy and also focusing on the adoption of the technology in every sector, as this helps people to run their service and reduce the gap of the problems. In the present situation financial establishments are majorly focusing on the construction of the pillars of evolution, financial growth and progress for consumers. This current paper will help in underlining the major areas of understanding the mobile banking and the reasons behind people availing different kinds of bank services. The study also significantly draws the various obstacles faced by them while using the banking services. Lastly, the study outlines some recommendations that banks must undertake in practice for better growth in the present as well in the future. From the finding of the study, it can be clearly stated that banks need to sketch clear vision and direction for the people (consumers). It is necessary to sustain the storm of obstacles to succeed in the competitive market.