An Analytical Study: Inclusive Approach to Banking by Scheduled Commercial Banks as a key driver for Inclusive Growth

Type Journal Article - Journal for Contemporary Research in Management
Title An Analytical Study: Inclusive Approach to Banking by Scheduled Commercial Banks as a key driver for Inclusive Growth
Author(s)
URL http://dawn-svims.in/wp-content/uploads/2015/01/1-An-Analytical-Study-Inclusive-Approach-to-Banking-​by-Scheduled-Commercial-Banks-as-a-key-driver-for-Inclusive-Growth-Dr.-Neelofar-Raina.pdf
Abstract
Financial inclusion is a buzzword not just in India, but globally as well. RBI views financial inclusion as a process that seeks to ensure access to appropriate financial products and services at an affordable cost in a fair, transparent & secure manner by mainstream institutional players. In India bank-led model for financial inclusion has been emphasized. Financial Inclusion Plans by Scheduled Commercial banks aim at providing banking services at affordable cost to those segments of society which are deprived of it, thereby bringing the unbanked population/areas into the formal financial sector. However, Banks alone will not be able to achieve this unless an entire support system partners with them in this mission.

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