FINANCIAL INCLUSION: INITIATIVES AND ACHIEVEMENTS IN INDIA

The growth of the economy is dependent on the growth of the rural market in the country. The availability of quality financial services in rural areas is extremely important for the growth of the economy as this will enable the large number of rural households to fund the growth of their livelihoods. Therefore greater financial inclusion in these segments is imperative. Through Financial inclusion we can achieve equitable and inclusive growth of the nation. Depending on the stage of development, the degree of Financial Inclusion differs among countries. For the inclusive growth process of economy the central bank has also provided high importance to the financial inclusion. The study focuses on the role of financial inclusion in strengthening the India's position in relation to other countries economy and the initiatives taken by Government and Reserve Bank of India for strengthening financial inclusion in the country. The relevant data for this study has been collected with the help of from various Research journals, Articles, reports of RBI, reports of NABARD and online resources. After analysing the facts and figures it can be concluded that undoubtedly financial inclusion is playing a catalytic role for the economic and social development of society but still there is a long road ahead to achieve the desired outcomes.