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    Add as Friendfinancial inclusion in india

    by: poornimadevi

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    1 : S.VINOTH,ASST.PROFESSOR, POORNIMADEVI.P, BHUVANESHWARI, PG STUDENTS-MBA, RVSIMSR FINANCIAL IncLUSION IN INDIA A CHALLENGING TASK AHEAD
    2 : INTRODUCTION: In INDIA the basic concept of financial inclusion is having a saving or current account in any bank. The first-ever index of financial inclusion to find out the extent of reach of banking services among 100 countries, INDIA has been ranked 50. Only 34% of INDIAN individuals has access to receive banking services.
    3 : Financial inclusion should include access to financial products and services like: No frill bank accounts. Micro credit Remittance and payment services Insurance-healthcare Mortgage Financial advisory services Entrepreneurial credit Pension for old age Investment plan for children’s education, etc.
    4 : SCOPE: TECHNOLOGY RBI today said that financial inclusion is not restricted merely to opening of bank accounts and should imply provision of all financial services like credit, remittance and overdraft facilities for the rural poor.
    5 : There are various measures to ascertain the level of financial inclusion in the country. Savings and current accounts as percentage of population, savings and current bank accounts as percentage of adult population, credit accounts as adult population, priority advances are a few measures used to ascertain the level of financial inclusion in the country. Population per branch in INDIA has significantly declined from 63,000 in 1969 to 16,000 in 2007.
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