Financial Inclusion in India: Select Issues

43 Pages Posted: 2 Dec 2014

See all articles by Charan Singh

Charan Singh

Indian Institute of Management (IIMB), Bangalore

Akanksha Mittal

Indian Institute of Management (IIMB), Bangalore

Ritesh Garg

Indian Institute of Management (IIMB), Bangalore

Akshay Goenka

Indian Institute of Management (IIMB), Bangalore

Rahul Goud

Indian Institute of Management (IIMB), Bangalore

Karthik Ram

Indian Institute of Management (IIMB), Bangalore

Rathi Suresh

Indian Institute of Management (IIMB), Bangalore

Ravi Chandrakar

Indian Institute of Management (IIMB), Bangalore

Ujjaval Kumar

Indian Institute of Management (IIMB), Bangalore

Date Written: December 2, 2014

Abstract

As the majority of the rural population is still not included in the inclusive growth, the concept of financial inclusion becomes a challenge for the Indian economy. Since 2005, many concerted measures are initiated by the Reserve Bank of India and Government of India in favor of financial inclusion but the impact of these did not yield satisfactory results. The paper aims to focus on utilizing the existing resources such as Mobile phones, Banking Technologies, India Post Office, Fair Price Shops and Business Correspondents (BCs) thereby making it more efficient and user friendly for the interest of the rural population as well as the formal sector.

Keywords: Financial inclusion, Business correspondents, Indian economy

Suggested Citation

Singh, Charan and Mittal, Akanksha and Garg, Ritesh and Goenka, Akshay and Goud, Rahul and Ram, Karthik and Suresh, Rathi and Chandrakar, Ravi and Kumar, Ujjaval, Financial Inclusion in India: Select Issues (December 2, 2014). IIM Bangalore Research Paper No. 474, Available at SSRN: https://ssrn.com/abstract=2532876 or http://dx.doi.org/10.2139/ssrn.2532876

Charan Singh (Contact Author)

Indian Institute of Management (IIMB), Bangalore ( email )

Bannerghatta Road
Bangalore, Karnataka 560076
India
080-26993818 (Phone)

Akanksha Mittal

Indian Institute of Management (IIMB), Bangalore ( email )

Bannerghatta Road
Bangalore, Karnataka 560076
India

Ritesh Garg

Indian Institute of Management (IIMB), Bangalore ( email )

Bannerghatta Road
Bangalore, Karnataka 560076
India

Akshay Goenka

Indian Institute of Management (IIMB), Bangalore ( email )

Bannerghatta Road
Bangalore, Karnataka 560076
India

Rahul Goud

Indian Institute of Management (IIMB), Bangalore ( email )

Bannerghatta Road
Bangalore, Karnataka 560076
India

Karthik Ram

Indian Institute of Management (IIMB), Bangalore ( email )

Bannerghatta Road
Bangalore, Karnataka 560076
India

Rathi Suresh

Indian Institute of Management (IIMB), Bangalore ( email )

Bannerghatta Road
Bangalore, Karnataka 560076
India

Ravi Chandrakar

Indian Institute of Management (IIMB), Bangalore ( email )

Bannerghatta Road
Bangalore, Karnataka 560076
India

Ujjaval Kumar

Indian Institute of Management (IIMB), Bangalore ( email )

Bannerghatta Road
Bangalore, Karnataka 560076
India

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