Vol. 3, Issue 1 (2016)
An analytical study: “Role of financial inclusion in reference to financing poors as bankable opportunities Micro credit and SHGs” in India
Author(s): Ravi Raj Singh, Dr. MS Khan
Abstract: Financial inclusion as a comparative and real process for developing India the age of inclusive growth and the key for inclusive growth is ensuring to access financial services and timely adequate credit, particularly by insecure groups of such a poor section and low income groups at a low costs, to sections of drawback and low income group of society. There have been many redoubtable challenges in financial inclusion area such as bringing the space between the sections of society that are financially cut out within the ballpark of the formal financial system, providing financial education and arterialize credit delivery mechanisms so as to improvise the financial economic development. A nation can develop socially and economically if its weaker section can turn out to be financial independent. This paper highlights the basic characteristics of financial inclusion, and its need for social and economic growth of the society. The study focuses on the role of financial enlargement; in arterialize the India’s position in relation by providing the financing facilities to poor as Bankable opportunities in the forms of Micro credit and SHGs. The role of vertex bank in India like RBI, NABARD and SIDBI. To develop the rural banking services same the concept of MFIs analyzing. The data has been gathered from the source of secondary like report of RBI, NABARD, books on financial inclusion and other articles written by eminent authors. After interpretation the facts and figures it can be concluded that undoubtedly financial inclusion is playing a sensitizer role for the economic and social development of society but still there is a long road before to accomplish the desired results.