Financial Inclusion Towards Economic Development of Marginalized Sections in India - Opportunities And Challenges A Brief Analysis

ABSTRACT:

A vast segment of India's population exists on the margins of India's financial systems. There is growing concern about people being 'under-banked", Financial inclusion is an important priority of the country in terms of inclusive economic growth and the development of society. It enables reduction of the gap between rich and poor. It helps to channelize money flows into the economy and made the financial resources used in an effective way and it would helpful for the development of the nation; it ensures people who are unable to access the financial system so far can access it with ease. The present paper discusses the role of financial inclusion in the economic development of society and how the different stakeholders play an important role in developing the whole initiative. And this paper also focuses on route-level opportunities and challenges faced by individuals when ng during the accessing financial services.