Digital Finance for Financial Inclusion and Inclusive Growth

Financial Inclusion is an emerging concept. The objective of the government behind 100 percent Financial Inclusion is to have inclusive growth in India. Several initiatives have been taken by the Government of India and the Reserve Bank of India to improve access to financial services. To measure the effectiveness of these initiatives there is need to measure the extent of Financial Inclusion. Financial Inclusion can be measured by gauging the progress in access to and usage of a range of products and services of financial institutions over time. The present study sought to propose an index to measure the extent of banking sector oriented Financial Inclusion in India over a period of time rather than a cross-section study which has been the focus of many a studies. The study used more specific indicators of banks-centric financial inclusion dimensions to gauge the long run trend in Financial Inclusion in India. The results indicate that there is much improvement in Financial Inclusion in India since the implementation of financial sector reforms.

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Role of Banks in Ensuring a Sustainable and Inclusive Growth

IRA-International Journal of Management & Social Sciences (ISSN 2455-2267) ◽

10.21013/jmss.v6.n3.p16 ◽

2017 ◽

Vol 6 (3) ◽

pp. 509

Author(s):

Saurabh Agarwal

Keyword(s):

Economic Growth ◽

Financial Services ◽

Banking Industry ◽

Essential Element ◽

Financial Inclusion ◽

Market Size ◽

Inclusive Growth ◽

Policy Makers ◽

The People

<div><p><em>Economic growth in India has to be inclusive in order to make it sustainable. Inclusiveness is an essential element in a democracy. If policies that bring about economic growth do not benefit the people in a wide and inclusive manner, they will not be sustainable. Equally, inclusive growth is essential to grow the market size, which alone will sustain growth momentum. Inclusive growth is the only just and equitable way that any society can grow. Financial Inclusion rests on three pillars viz. access to <strong>financial services, affordability of such services and actual utilization of such services.</strong> Financial Inclusion can be achieved only if all the three pillars show affirmative results. It may prove to be very useful for the banking Industry and the overall Indian economy. It will be useful for policy makers, academicians and researchers in the field.</em></p></div>

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Developing a Financial Inclusion Index and Inclusive Growth in India

The Indian Economic Journal ◽

10.1177/0019466220150210 ◽

2015 ◽

Vol 63 (2) ◽

pp. 283-311 ◽

Cited By ~ 2

Author(s):

Susanta Kumar Sethy

Keyword(s):

Financial Inclusion ◽

Inclusive Growth

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The present state of global scientific debate in the field of financial development

Voprosy Ekonomiki ◽

10.32609/0042-8736-2019-3-29-47 ◽

2019 ◽

pp. 29-47 ◽

Cited By ~ 1

Author(s):

Yuriy A. Danilov

Keyword(s):

Financial Development ◽

Financial Inclusion ◽

Inclusive Growth ◽

Scientific Debate ◽

Scientific Discussion ◽

Russian State ◽

The World ◽

Socio Economic Development ◽

Sustainable Finance ◽

The Impact

The article attempts to summarize the results of a global scientific discussion in the field of financial development. Four areas of research on financial development have been identified and analyzed, which seem to be the most noticeable and significant both for the global economic discussion and for Russian experts: the impact of financial development on economic growth; the problem of assessing financial development; financial inclusion; sustainable finance concept. It is noted that the last two areas are closely related to the concepts of socio-economic development, respectively, of inclusive growth (“growth for all”) and of sustainable development. The necessity of taking into account the latest achievements of the world scientific thought in the Russian state policy concerning the financial sector is substantiated.

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