( ISSN 2277 - 9809 (online) ISSN 2348 - 9359 (Print) ) New DOI : 10.32804/IRJMSH

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COMPARATIVE ANALYSIS OF FINANCIAL INCLUSION IN RURAL AND URBAN AREAS OF INDIA

    3 Author(s):  VIKAS SHARMA, YUKTI SHARMA , NARENDER SINGH NEGI

Vol -  5, Issue- 1 ,         Page(s) : 120 - 132  (2014 ) DOI : https://doi.org/10.32804/IRJMSH

Abstract

Financial Inclusion has become a buzzword internationally – even in developed financial markets there are concerns about those excluded from the banking system. The aim of financial inclusion is to expand the coverage of the formal financial system in the country, and over the past decade, this has also become a key objective for emerging economies. The biggest challenge for next decade or more to banks in India is to capture thebanking business of over 40% population of this country of over 120 billion people. In India, financial inclusion first featured in 2005, when it was introduced by K C Chakraborthy, the chairman of Indian Bank. Mangalam Village became the first village in India where all households were provided banking facilities.

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1. Report of “Committee on Financial Inclusion” , Report submitted by Committee headed by C. Rangarajan

2. Dr. Chakrabarty KC, DG, RBI. Keynote address on “Furthering Financial Inclusion through Financial Literacy and Credit Counseling”.

3. Chakrabarty, K.C. (2011), ‘Financial Inclusion - A Road India Needs to Travel’, Article published in www.livemint.com on October 22, 2011.

4. Mohan, R., (2006), 'Economic Growth, Financial Deepening and Financial Inclusion', Reserve Bank of India Bulletin.

5. Report of the Committee on Financial Inclusion, Chaired by Dr. C. Rangarajan, January 2008, Retrieved from: http://www.nabard.org/report_comfinancial.asp

6. Dev, Mahendra S (2006). “Financial Inclusion: Issues and Challenges”. Economic and Political Weekly. October 14, 2006. pp. 4310 – 4313.

7. Reserve Bank of India (2006a), “Financial Inclusion and Millennium Development Goals”, Address by UshaThorat, Deputy Governor of the Reserve Bank of India, January 16, available at http://www.rbi.org.in

8. BASAVARAJA P.M., Financial Inclusion – An Evaluation of Initiatives and Impact (A study on select districts in Karnataka State), Siddaganga Institute of Technology, Tumkur

9. http://www.rbi.org.in/scripts/BS_SpeechesView.aspx?Id=749

10. http://www.igidr.ac.in/conf/money1/Financial%20Inclusion%20and%20Its%20Determinants_Nitin.pdf

11. http://financialservices.gov.in/banking/financialinclusion.asp

18. http://www.rbi.org.in/scripts/BS_SpeechesView.aspx?Id=749

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