Abstract: This paper tries to show the present scenario of Financial Inclusion (FI) in India. Majority of the people in India lives in rural parts of the country. Hence, development of rural India is a key to the economic growth of the country. Financial inclusion or inclusive financing is the delivery of financial services at reasonable costs to sections of underprivileged and low-income segments of society. Financial inclusion is a key technique to achieve the success of inclusive growth, Inclusive growth is very essential for the development of the country. RBI and Government of India are trying to launch new programs to achieve the financial inclusion, namely; launching of Pradhan Mantri Jan Dhan Yojan (PJDY), Pradhan Mantri Jeevan Jyoti Bima Yojan and Pradhan Mantri Suraksha Bima Yojan of course these two schemes main intention is to provide insurance at low cost beyond this achieving financial inclusion is working, etc. RBI supporting to achieve achieving the FI by reducing know-your-customer (KYC) and also suggesting to all banks in India providing of no-frills accounts (nil account or in low balance) this paper is completely based on secondary data.
Keywords: Financial Inclusion, RBI and Government, (KYC) know-your-customer.
Title: Progression of Financial Inclusion in India
Author: PANDURANGA B, PANDURANGA R
International Journal of Management and Commerce Innovations
ISSN 2348-7585 (Online)
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