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Financial Inclusion and Microfinance

Chapter Objectives

This chapter will enable you to develop an understanding of the following:

  1. Financial inclusion

  2. Microfinance

  3. Financial inclusion

INTRODUCTION TO FINANCIAL INCLUSION

The banks were nationalised with an objective to cover a large part of the population under banking services. Even after more than 35 years of nationalisation, more than 40 per cent of the adult population in India has no access to formal banking and financial services. This financial exclusion could be on the grounds that the individual has either no savings/assets and hence, no savings/current account in the bank. Besides, he also may not have access to any financial advice and perceives the cost of the financial services ...

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