Financial inclusion has become a major global agenda, in the recent years and there is a growing concern for financial inclusion in India also. Financial inclusion refers to people’s access to a vast range of financial products and services at affordable cost. Over the years, micro finance as a financial service innovation is fast emerging as an important method of bettering the lot of the poor and the downtrodden. Need for managing financial risks has given birth to a number of micro credits, micro insurance products and many other financial services that are micro in nature. It can be defined as provision of thrift, credit and other financial services and products of very small amount to the poor in rural, semi-urban or urban areas for enabling them to raise their income levels and improve living standards. The contribution of micro finance and insurance in the rural development is praiseworthy.