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Financial Inclusion and credit related intervention for inclusive growth

Introduction

Financial Inclusion refers to provide financial services to low income segment at


affordable cost that might otherwise not be able to get those services. In India,
government providing zero balance account to the poor is one of the examples of
Financial Inclusion. Although there are many definition that define Financial
Inclusion like definition given by government of India (2008) or by Planning
Commission (2009) or by Chakraborty (2011) e.t.c

Financial inclusion is one of the methods through which Inclusive Growth can be
achieved in India where large sections are unable or incompetent to participate in
the Financial System because it’s primarily aims to include everybody in the
society by giving them basic financial services without looking persons income or
savings that is provide financial solutions without any signs of inequality and to
build and maintain financial sustainability such that the less fortunate people have
a certainty of funds which they struggle to have. it’s intends to increase financial
literacy and awareness about the benefits of financial services among the
economically underprivileged sections of the society and also help people secure
financial services and products at economical prices such as deposits, fund transfer
services, loans, insurance, payment services.

Objectives

1) Initiatives of SBI and PNB Bank in inclusive growth of Haridwar district.

2) The steps taken towards financial inclusion by Government of India.


3) To study the present situation of financial inclusion in India by analysing the
branches in rural and urban areas.

Methodology

1) Research into the direct experiences of financially excluded by banks.

2) Evaluation of practical initiatives aiming to promote financial inclusion


taken up by banks.

3) Online research through major search engines.

Sample Design

1) Selection of bank in Haridwar District.

2) Selection of block in Haridwar District.

3) Selection of villages in Haridwar District.

Area of Study

Financial Inclusion in Haridwar District and India

Analytical Framework

Selecting area and collect the data and create a random sample and compare
financial inclusion on the basis of CRISIL Inclusive index. It is a composite index,
currently measuring financial inclusion as on aggregate of four key dimensions:
Branch, Credit, Deposit and Insurance penetration.

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