scholarly journals Study of Role of Financial Institution in Financial Inclusion

2020 ◽  
Vol 10 (6) ◽  
pp. 35-40
Author(s):  
Ishan Khatri ◽  
Prarthana Fabyani ◽  
Chehak Rajgarhia ◽  
Sejal Murarka
Keyword(s):  
Financial Services ◽  
Financial Institution ◽  
Vital Role ◽  
Financial Inclusion ◽  
Self Help ◽  
Reserve Bank ◽  
The World ◽  
Self Help Groups ◽  
Reserve Bank Of India

India is one of the largest growing economies in the world. Financial inclusion is providing financial services at an affordable rate to all people. It comes into existence in the year 1950 establishment of Reserve Bank of India. There are various incentives which have been undertaken to increase financial inclusion in India. With the nationalization of commercial banks. And the formation of NABARD Self-help Groups and Kisan credit bank. After 2000, the schemes like Swavalamban swabhiman have been launched to increase its role. The schemes by government of India like PMJDY and Startup India schemes. Financial inclusion helps in forming cashless economy and increase capital formation and increase economic growth of the country. It provides business and growth opportunities to the Intermediaries. This system also provides affordable services to the poor and played a vital role in improving country financial services.

scholarly journals Financial inclusion: a tool for socio- economic development

2015 ◽  
Vol 1 (3) ◽  
pp. 230-238
Author(s):  
Bhushan Singh ◽  
Sandeep Singh
Keyword(s):  
Universal Access ◽  
Financial Inclusion ◽  
Bank Account ◽  
Banking Services ◽  
Current Trends ◽  
Self Help ◽  
Reserve Bank ◽  
The World ◽  
Self Help Groups ◽  
Reserve Bank Of India

Financial inclusion is one of the buzz-words in the development circles lately.It is also one of the major challenges throughout the world today and every government is taking different measures to make this dream come true. Various initiatives were taken up by Reserve Bank of India(RBI)/Government of India(GOI) like nationalization of banks, expansion of bank branch network, establishment & expansion of cooperative and Regional Rural Banks (RRBs), leadbank schemes, formation of Self Help Groups(SHGs), Micro Finance Institutions (MFIs) and Business correspondent model etc.in order to ensure financial inclusion. Besides all these initiativesas per census, 2011, out of 24.67 crore household in the country, only 14.48 crore (58.7%) households had access to organized banking services. To remove this disparity,government launched Pardhan Mantri Jan Dhan Yojna(PMJDY)with the objective to ensure universal access to banking facility with at least one basic bank account for every household.Government has successfully opened more than 12.5crore bank account throughvarious banks and mobilized more than INR10,000 crore deposits up to January, 2015. In this context, this paper is an attempt to study the current trends in financial inclusion in India with special reference to PMJDY.

Microfinance

2019 ◽  
pp. 23-51 ◽  
Author(s):  
Rajib Bhattacharyya
Keyword(s):  
Financial Services ◽  
Women Empowerment ◽  
Integrated Network ◽  
Self Help ◽  
Rural And Urban ◽  
Positive Growth ◽  
The World ◽  
Urban India ◽  
Self Help Groups

In India, microfinance, dominated by Self Help Groups (SHGs), has provided an effective mechanism for providing financial services to the “unreached poor”, and also in strengthening underprivileged and discriminated women in the society and thus significantly contributing to gender equality and women empowerment. The present chapter attempts to analyze the concept of women empowerment and its various indices such as GDI, GEM, and Women's Empowerment Index (WEI) in detail for India. The chapter explores the linkage between the role of microfinance and the empowerment of women in rural and urban India. The study reveals that though micro finance is supposed to provide an effective tool for financial and social upliftment of the poorer sections of the society, particularly women, but its penetration depends on a multifaceted and integrated network and so both the self-help bank model and the MFI model may have achieved some positive growth, but their performances are not quite deterministic when compared with other countries of the world.

Role of Self Help Groups A Study with Specific Reference to Vellore District

GIS Business ◽  
2019 ◽  
Vol 14 (6) ◽  
pp. 243-252
Author(s):  
Dr. M.A. Bilal Ahmed ◽  
Dr. S. Thameemul Ansari
Keyword(s):  
Leadership Role ◽  
Three Dimensions ◽  
Specific Reference ◽  
Government Organizations ◽  
Research Article ◽  
Self Help ◽  
The People ◽  
The World ◽  
Self Help Groups

SHG is a movement which came to being in the early 1969. Prof. Muhammed Younus, a great economist of Bangladesh took initiative in setting up Self Help Groups and these SHGs were gradually spread all over the world. This social movement unites the people hailing from poor background. Those who are joining this group feel socially and economically responsible to one another. In India, there are some likeminded bodies and stakeholders of some government organizations play pivotal role towards the formation of SHG In this research article, role of SHGs in Vellore district is studies under the three dimensions of Cognitive role, leadership role and role towards entrepreneurship.

scholarly journals Engendering Women’s Access to Credit through Financial Inclusion in India

2016 ◽  
Vol 8 (6) ◽  
pp. 201
Author(s):  
Jaya Mathew ◽  
Reeba Kurian
Keyword(s):  
Financial Inclusion ◽  
Access To Credit ◽  
Representation Of Women ◽  
Self Help ◽  
Reserve Bank ◽  
National Bank ◽  
The Government ◽  
Self Help Groups ◽  
Formal Finance ◽  
Women In India

<p>Government of India and Reserve Bank of India has undertaken a lot of measures to mitigate the problem of financial inclusion in India. The emergence of Self Help Groups (SHGs) and SHG-Bank linkage Programme have helped extensively to strengthen the poor especially women. In India due to social and cultural reasons women face greater challenges in access to formal finance.</p><p>This study highlights the representation of Women in Self Help Groups (WSHGs) and SHG-Bank Linkage programmes undertaken by the Government of India (GOI) and National Bank for Agriculture and Rural Development (NABARD) and tries to establish that these initiatives have improved women’s access to finance in India.</p>

scholarly journals BANKING SECTOR ORIENTED FINANCIAL INCLUSION IN INDIA: A LONG TERM PERSPECTIVE

2020 ◽  
pp. 42-59
Author(s):  
Sana Pathan ◽  
Archana Fulwari
Keyword(s):  
Financial Services ◽  
Banking Sector ◽  
Financial Inclusion ◽  
Inclusive Growth ◽  
Long Run ◽  
Reserve Bank ◽  
The Government ◽  
Improve Access ◽  
Reserve Bank Of India

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.

scholarly journals Socio-Economic Status of Rural Women of Self Help Groups: A Study of Dhaniakhali and Polba-Dadpur Blocks of Hooghly District, W.B.

2020 ◽  
Vol 66 (2) ◽  
pp. 164-173
Author(s):  
Saheli Kumar ◽  
◽  
Kaushalendra Prakash Goswami ◽  
Keyword(s):  
Rural Women ◽  
Social Transformation ◽  
Economic Status ◽  
Vital Role ◽  
Primary Data ◽  
Socio Economic Status ◽  
Self Help ◽  
Self Help Groups ◽  
The Impact

Nowadays Self-Help Group or SHG plays a vital role not only in social transformation and upliftment of rural women but also in social-economic betterment of them. The main objective of this paper is to examine the impact assessment in the socio-economic status of rural women through Self Help Groups with the help of a micro-level study of two C. D. blocks namely Dhaniakhali and Polba-Dadpur in Hooghly district. 40572 SHGs are consisting of 394897 members in 18 C. D. blocks of Hooghly district. Among the blocks, Daniakhali and Polba-Dadpur were selected for the study, of which 28 groups are chosen randomly. From these selected groups 108 members have been selected to conduct the primary survey. Personal interviews were conducted to find out the major purposes of the study i.e. to examine the role of SHG in developing the socio-economic status of rural women and to analyse the impact of SHGs in decision making. The study is mainly based on primary data and simple per cent calculation is used for analysing the data. The major analytical tool employed for the study is tabular analysis to facilitate easy interpretation. Map of the study area is prepared through ArcGIS 10.5 software. The present study explains a detailed socio-economic profile of the SHG members in the study area.

Evaluation of Financial Inclusion Index for accessing Banking Technology through Rural Population from the States of India

2019 ◽  
Vol 118 (8) ◽  
pp. 261-265
Author(s):  
Dr.M. Bhuvana
Keyword(s):  
Rural Areas ◽  
Financial Services ◽  
Rural Population ◽  
Research Study ◽  
Financial Inclusion ◽  
Insurance Company ◽  
Indian Government ◽  
Financial Products ◽  
Reserve Bank ◽  
Reserve Bank Of India

Reserve bank of India has described the term Financial Inclusion as the sequence of activities that has taken place in proving financial services to the most vulnerable people in country at a very low affordable cost. The financial services like assess to financial products such as small deposits and savings, providing basic credit requirements through formal financial institutions like post offices, banks, microfinance institutions and banks. Rural people faces may issues and challenges in using financial products and services to meet their basic needs. Hence this research study has done an analysis to evaluate index of financial inclusion for various states of India with four different types of dimensions like Penetration of Bank Branches in rural areas, Credit Penetration, Deposit and Penetration of Insurance Companies in the rural regions of all the states of India. Different resources namely the website of Reserve Bank of India, Census 2011 data, articles and journals has been utilized to gather the secondary data for the study. The dimensions such as deposit, credit, insurance company penetration and bank branch penetration in rural areas of different states of India has been measured by accessing multidimensional approach to examine financial inclusion index 2018. From the research study, it is found that the states Puducherry, Daman & Diu, Chandigarh and Goa has Financial Inclusion at below average level (between 35-50) and the remaining states in India has financial inclusion at very low level in rural areas (Below 35).As concerned with rural population many states in India has financial inclusion at below average and lower level. The concern authorities from Indian Government should examine those states that are highly eliminated from accessing banking services to restructure the position of financial inclusion

Union Bank of India: Initiatives towards IT-enabled Financial Inclusion

2014 ◽  
Vol 3 (2) ◽  
pp. 149-156
Author(s):  
Taruna Gautam ◽  
Kapil Garg
Keyword(s):  
Financial Services ◽  
Operating Cost ◽  
Financial Inclusion ◽  
Mobile Banking ◽  
Economic Activities ◽  
The People ◽  
Reserve Bank ◽  
Financial Depth ◽  
Financial Growth ◽  
Reserve Bank Of India

The economy is on the path of growth trajectory as a result of vibrancy in all-round economic activities. At present, the financial depth in Indian economic scenario is not that encouraging as in other Asian countries, although it has demonstrated gains in momentum. There is a strong interrelationship between economic growth and financial growth through financial inclusion. Financial inclusion involves the concerns related to the operating costs that are inherent in wider expansion. Similarly, the charges levied are an important aspect, along with the inability to reach rural and unbanked areas. Here, information technology (IT) can play an important role not only in reducing the operating cost but also in covering most of the regions which are unbanked. IT provides various solutions for financial services to the people devoid of banking facilities in the form of mobile banking and micro ATM. This case highlights the various IT measures and schemes launched by Union Bank of India towards financial inclusion as per the guidelines of Reserve Bank of India (RBI).

scholarly journals ROLE OF DIGITIZATION IN FINANCIAL INCLUSION OF SELF- HELP GROUPS

2019 ◽  
pp. 43-46
Author(s):  
Puja Rajvanshi ◽  
S. K. Vyas
Keyword(s):  
Rural Areas ◽  
Financial Services ◽  
Financial Inclusion ◽  
Credit System ◽  
Digital Inclusion ◽  
Digital Medium ◽  
Self Help ◽  
The Poor ◽  
Self Help Groups ◽  
The Impact

India has always aimed at inclusive growth. A large part of population still resides in rural areas. Economic development of India is not possible without rural development. Several programs were introduced from time to time with the core objective of easing the accessibility of financial services to the poor but with little success. One of the reasons for rampant underdevelopment of rural India is inaccessibility of funds at the grass root level. As the formal credit institutions were considered incapable of dealing with the financial requirements of the poor, microfinance emerged as an alternate credit system. This has further gained momentum by using technology to provide financial services to the poor. This paper would focus on how digitization has influenced financial inclusion and what are the various challenges that must be tackled to make it more effective. As the focus is on SHG- BLP model, this paper would emphasize how the SHGs can utilize digital medium to reap more benefits out of this microfinance model. The paper would give insight into how the impact of microfinance can be enhanced using technology. KEY WORDS: Microfinance, Self Help Groups, NABARD, Digital Inclusion, Digitization etc.

scholarly journals Effectiveness of Financial Inclusion in Economic Growth of India

2021 ◽  
Vol 5 (7) ◽  
pp. 71-75
Author(s):  
Sirangi Chandra Shekhar ◽  
Jothiselvamuthukumar A.
Keyword(s):  
Financial Services ◽  
Financial Inclusion ◽  
Investment Funds ◽  
Financial Exclusion ◽  
Reserve Bank ◽  
Formal Framework ◽  
Credit History ◽  
Comprehensive Development ◽  
Low Pay ◽  
Reserve Bank Of India

Financial Inclusion (FI) is a significant interaction to accomplish the objective of comprehensive development. Appropriately, the Reserve Bank of India (RBI) has put forth, supported attempts to expand the entrance of basic financial services in unbanked zones, while proceeding with its strategy of guaranteeing satisfactory however feasible progression of credit to need areas of the economy. FI is conveyance of banking administrations at a reasonable cost to the immense segments of oppressed and low-pay gatherings. By FI we mean the arrangement of reasonable financial services, to be specific admittance to installments and settlement offices, investment funds, advances, and protection services by the formal framework to the individuals who are generally not offered these kinds of services by any other financial institutions due to their poor credit history. Meaning of FI emerges from the issue of financial exclusion of almost 3billion individuals from the basic financial services across the world, with just 34percent populace occupied with formal banking. India has, 135 million FI families, the second most noteworthy after china. The current paper is a modest endeavor to discover the reasons for financial exclusion in India, examine the degree and extent of FI with regards to India and propose measures to take care of the issue of financial exclusion in India.

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