Financial Inclusion Essay

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Finance is assumed to be one of the most important tools for the growth and poverty improvement in a country. Financial inclusion is a vision for every country to achieve so that it can provide quality services to its citizens. Govt. Has introduces many schemes to achieve the aim of Inclusive growth and abandoned access to Financial services. Many initiatives, schemes and reforms have been put into the place after independence. Many Cooperative Banks where introduced to supply credit for farming purpose and for this cooperative banks came into existence immediately after Independence and further it was followed by the nationalization of many banks and priority sector lending and subsequently.
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Financial inclusion has been successful in other countries India is also trying this for all time to achieve this goal. Access to affordable financial services would lead to increasing economic actions and employment opportunities for rural households with a possible multiplier effect on the financial system. Financial inclusion could enable a higher disposable income in the hands of rural households leading to greater savings and a wider deposit base for banks and other financial institutions. So i thought it would be better to study financial inclusion (PRADHAN MANTRI JAN-DHAN YOJANA) how it would help the people and economy as a whole.

1.1.4 OBJECTIVES OF THE STUDY To briefly study and examine financial poverty in India. To study and analyze recent standing of Financial Inclusion in the Jammu and Kashmir State. To assess latest scheme under financial inclusion ( Pradhan Mantri Jan Dhan Yojana) To see how it is helpful for the society. To see how many accounts have been covered under pmjdy.
1.1.5 SCOPE OF THE STUDY To study and analyze financial inclusion practices which are carried by Jammu and Kashmir
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