Financial Inclusion in India: A State Level Study
| International Journal of Economics and Management Studies |
| © 2016 by SSRG - IJEMS Journal |
| Volume 3 Issue 2 |
| Year of Publication : 2016 |
| Authors : Poonam, Archna Chaudhry |
10.14445/23939125/IJEMS-V3I3P101
How to Cite?
Poonam, Archna Chaudhry, "Financial Inclusion in India: A State Level Study," SSRG International Journal of Economics and Management Studies, vol. 3, no. 2, pp. 1-4, 2016. Crossref, https://doi.org/10.14445/23939125/IJEMS-V3I3P101
Abstract:
The promotion of an inclusive financial system is a policy priority in many countries and so is the case in India. The importance of financial inclusion is widely recognised as lack of it enhances the problem of social exclusion as well. The Indian financial system today has an impressive network of banks, financial institutions and a wide range of instruments. This paper has taken into consideration many dimensions of financial inclusion related with banks like offices, amount and accounts at state level. Financial inclusion is shown by proposing a multidimensional index of financial inclusion (IFI) for the years 2001 and 2014 to analyse the situation on a comparative basis. The values of financial inclusion lies between 0 and 1where, zero defines complete financial exclusion and 1indicates complete financial inclusion throughout India. Most of the states but not all have shown improvement in 2014 in comparison to 2001 and there are changes in rankings as well.
Keywords:
Financial inclusion, IFI, index.
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