scholarly journals FINANCIAL INCLUSION IN INDIA WITH SPECIAL REFERENCE TO JAN DHAN YOJANA

2020 ◽  
Vol 5 (2) ◽  
Author(s):  
Divya U ◽  
Noor Firdoos Jahan
Keyword(s):  
Economic Development ◽  
Special Reference ◽  
Present Status ◽  
Universal Access ◽  
Financial Inclusion ◽  
Accident Insurance ◽  
Inclusive Growth ◽  
Not Given ◽  
Indian Economy ◽  
Cooperative Banks

Financial inclusion is a priority of any government to achieve inclusive growth of the country for sustainable economic development. Financial inclusion is nothing but inclusion of financially excluded segment of the society into formal financial system of the economy. The efforts for financial inclusion is not new in India the RBI and GOI had taken many initiatives like Nationalization of banks, expansion of banks and its branches, establishment of cooperative banks regional rural bank etc. various initiatives were taken up. Despite various measures for financial inclusion poverty and exclusion continues to dominate Indian economy even after six decades of its independence. But the GOI and RBI has not given up its efforts towards complete financial inclusion. One of the important initiatives taken by Modi Government towards comprehensive financial inclusion is Pradhan mantri Jan Dhan Yojana (PMJDY). The scheme was launched with a target to provide universal access to banking facilities starting with basic banking account, with overdraft facility and Rupay debit card within built accident insurance. The study mainly concentrated towards global insights for financial inclusion, India’s present status of financial inclusion and PMJDY contribution towards reviving financial inclusion in India.

scholarly journals INDEX OF SYARIAH FINANCIAL INCLUSION IN INDONESIA

2017 ◽  
Vol 20 (1) ◽  
pp. 99-126 ◽  
Author(s):  
Azwar Iskandar Umar
Keyword(s):  
Economic Development ◽  
Human Development Index ◽  
Financial Inclusion ◽  
Three Dimensions ◽  
Islamic Banking ◽  
Annual Data ◽  
Inclusive Growth ◽  
Banking Services ◽  
Policy Priority ◽  
Province Level

This paper calculates and analyzes the Index of Syariah Financial Inclusion (ISFI) covering three dimensions; the accessibility, the availability and the usage of Islamic banking services. Using the annual data in province level in Indonesia during the period of 2010-2015, this paper found that the Index of Syariah Financial Inclusion is generally low and Bangka Belitung is the most financially inclusive province of Indonesia. Furthermore, the results show that the Index of Syariah Financial Inclusion is positively correlated with the Human Development Index. This conclusion suggests the promotion of Syariah Financial Inclusion to be a policy priority in Indonesia to achieve the central goals of inclusive growth, welfare and economic development.

Impact of Financial Inclusion on Indian Economy

Think India ◽  
2019 ◽  
Vol 22 (3) ◽  
pp. 563-569
Author(s):  
BHARTI
Keyword(s):  
Low Income ◽  
Financial Services ◽  
Poverty Alleviation ◽  
Fortune 500 ◽  
Financial Inclusion ◽  
Inclusive Growth ◽  
Indian Economy ◽  
The World ◽  
Banking Institution ◽  
The Impact

Financial inclusion is the delivery of financial services at affordable costs to sections of disadvantaged and low-income segments of society. The term financial inclusion has evolved since late 2000 and it’s directly correlated to poverty. More and more Indian companies are trying to enter in the list of fortune 500 and one of our Indian entrepreneurs appears in the list of the top five richest persons of the world. Financial inclusion has become an evolving paradigm of economic growth that plays very significant role in poverty alleviation. The main objective of the study is to analyze the impact of financial inclusion in the growth of Indian economy and the initiatives taken by the banking institution in India to attain inclusive growth.

Nexus between financial inclusion and economic growth

2016 ◽  
Vol 8 (1) ◽  
pp. 13-36 ◽  
Author(s):  
Dipasha Sharma
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Granger Causality ◽  
Developing Economies ◽  
Research Question ◽  
Financial Inclusion ◽  
Banking Services ◽  
Content Type ◽  
Indian Economy ◽  
Banking Institutions

Purpose The purpose of this study is to assess the nexus between the vast dimensions of financial inclusion and economic development of the emerging Indian economy. Design/methodology/approach In this study, vector auto-regression (VAR) models and Granger causality test were followed to test the main research question in Indian context. The data were collected on various dimensions of financial inclusion and economic development for the period 2004-2013. Findings Empirical results and discussion suggest that there is a positive association between economic growth and various dimensions of financial inclusion, specifically banking penetration, availability of banking services and usage of banking services in terms of deposits. Granger causality analysis reveals a bi-directional causality between geographic outreach and economic development and a unidirectional causality between the number of deposits/loan accounts and gross domestic product. The results obtained favor social banking experiments in India with a deepening of banking institutions. Research limitations/implications This study is limited to the banking institutions and specifically to the emerging and developing economies. Practical implications This study analyzes the quantitative value of social banking experiments and governments’ efforts to enhance financial inclusion in terms of economic growth. Social implications Financial inclusion plays a key role in developing a strong and an efficient financial infrastructure, which facilitates the growth of an economy. The findings of the study reveal that there is a strong association between banking penetration and growth. The discussion leads in the favor of deepening of the banking institutions, and therefore, policymakers can look forward to these findings to maintain a sustainable-inclusive-developed economic system in an emerging economy like India. Originality/value This study is original in nature and includes recent evidence and efforts to promote financial inclusion in the Indian economy. The findings of this study will be of value to banks and policymakers.

Pradhan Mantri Jan Dhan Yojana: An Initiative under Financial Inclusion

2019 ◽  
Vol 5 (4) ◽  
pp. 249-256
Author(s):  
Dinesh Kumar Gupta ◽  
Dr. Amaduddin Ahmad
Keyword(s):  
Cash Flow ◽  
Significant Role ◽  
Financial Inclusion ◽  
Inclusive Growth ◽  
Huge Amount ◽  
Indian Government ◽  
New Techniques ◽  
Indian Economy ◽  
Innovative Idea ◽  
The Government

Indian Government consistently makes its efforts towards inclusion of vulnerable section in organized financial system. This system might not only provide huge amount of cash flow to boost Indian economy but it could also help the government to facilitate inclusive growth through offering different services scheme like MNAREGA payment, pension, various subsidies etc. For the inclusive growth of the Indian economy, the GOI started Pradhan Mantri Jan Dhan Yojanain 2014. Financial inclusion is an innovative idea in India, which empowers the alternative new techniques to encourage the banking traditions and acts for reducing the poverty. Household coverage of this scheme is better in the district wise account opening report of Uttarakhnad state. We can say that PMJDY is playing a significant role in creating a universal platform for inclusive growth in India.

scholarly journals Inklusifitas Keuangan Syariah dan Kemiskinan di Indonesia

2018 ◽  
Vol 4 (2) ◽  
pp. 1-18
Author(s):  
Azwar Iskandar ◽  
Bayu Taufiq Possumah
Keyword(s):  
Economic Development ◽  
Secondary Data ◽  
Financial Inclusion ◽  
Inclusive Growth ◽  
Poverty Level ◽  
Policy Priority

This paper aims at calculating and analyzing the Index of Syariah Financial Inclusion (ISFI) during the period of 2015-2018 and its correlation with poverty level in Indonesia. Using the secondary data of 33 provinces in Indonesia from Badan Pusat Statistik (BPS), Bank Indonesia and Otoritas Jasa Keuangan (OJK) and Index of Financial Inclusion (IFI) method, this paper found that the Index of Syariah Financial Inclusion is generally low and DKI Jakarta is the most financially inclusive province of Indonesia. Furthermore, the results show that the Index of Syariah Financial Inclusion is negatively correlated with the poverty level. This conclusion suggests the promotion of Syariah Financial Inclusion to be a policy priority in Indonesia to achieve the central goals of inclusive growth, welfare and economic development.

Structural Transformation and Inclusive Growth

2018 ◽  
Author(s):  
Andy Sumner
Keyword(s):  
Economic Development ◽  
Structural Transformation ◽  
Inclusive Growth ◽  
Late Capitalism ◽  
Economy Model ◽  
Dual Economy ◽  
Heuristic Device ◽  
The Relationship

This chapter sets out some conceptual points of departure for the book in terms of structural transformation and inclusive growth. It revisits the Lewis model of economic development and proposes it as a heuristic device to connect structural transformation and inclusive growth. The chapter argues first, that both structural transformation and inclusive growth have tended to be defined in a reductionist sense, in a way that disconnects the two concepts. It is contended that this matters because the relationship between structural transformation and inclusive growth is embedded in—rather than separated from—the modality of late capitalism pursued. Second, that the work of pioneering development economist, W. Arthur Lewis and the Lewis dual economy model provides a useful heuristic device for thinking about the relationship between structural transformation and inclusive growth.

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