Financial Inclusion: A Case Study of Present Scenario of Branch Penetration and Insurance Penetration

Financial sector acts as a multiplier and mediator for economic stability. The growth of Financial Sector is very Important for the development of nation. It can be achieved by providing the financial services to all the citizens of India. Central Government, Ministry of finance and RBI Making efforts towards the inclusive growth of the economy since last five years. The Present study is mainly based on the overview on the status of financial inclusion in India in past few years. The study highlights the growth of banking outlets and penetration in various social security schemes offered by the Government of India in the past few years. For analysing such facts and figures, various reports published by NABARD, RBI, IRDA and Finance ministry have been studied. After analysing facts and figures, It can be concluded that now a days, Financial inclusion is playing an important role in achieving the social-economic development of the lower income group and provide banking services to major part of the population of India. However, to achieve the desired level of outcomes and inclusive growth of different types of class of people, Government is required to take different initiatives to make them contributory towards the growth of the economy.