Financial Inclusion of Rural Finance: A Way to Uplift the Rural Economy

International Journal of Economics and Management Studies

© 2018 by SSRG - IJEMS Journal

Volume 5 Issue 5

Year of Publication : 2018

Authors : Poorva Sakergayen

10.14445/23939125/IJEMS-V5I5P102

How to Cite?

Poorva Sakergayen, "Financial Inclusion of Rural Finance: A Way to Uplift the Rural Economy," SSRG International Journal of Economics and Management Studies, vol. 5,  no. 5, pp. 5-9, 2018. Crossref, https://doi.org/10.14445/23939125/IJEMS-V5I5P102

Abstract:

The purpose of this paper is to examine the financial needs which are unfilled, the underprivileged population and unresolved matters in order to decide the future of Rural Finance. Today the MFIs want the government to empower them for mobilising savings. The banking industry has shown tremendous growth in volume and complexity during the last few decades. Despite making significant improvements in all the areas relating to financial viability, profitability and competitiveness, there are concerns that banks have not been able to reach and bring vast segment of the population, especially the underprivileged sections of the society, into the fold of basic banking services. Internationally also efforts are being made to study the causes of financial exclusion and design strategies to ensure financial inclusion of the poor and disadvantaged. The reasons may vary from country to country and so also the strategy but all out efforts are needed as financial inclusion can truly lift the standard of life of the poor and the disadvantaged.This paper throws light on financial inclusions in India & the future of rural finance by uplifting the lives of rural poor in society.

Keywords:

Financial need, MFIs, Financial inclusion

References:

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