Although some of the initiatives like establishment cooperative banks towards the goal of achievement of efficient financial services in India started before the period of independence but the formal initiation of the concept of financial inclusion in India was seen in 1904 when co-operative banks were established for the social and economic development of rural economy and in 1969 when 14 banks were nationalized and in 1970, the lead bank scheme was introduced with a view to growth and development of priority/ needy sections. and recently, the core developmental philosophy of Pradhan Mantri Jan Dhan Yojana scheme was launched in August 28, 2014 for providing universal access of banking services and to remove the drawbacks of swabhimaan compaign.