Financial Inclusion’s Role in Equitable Growth

Parmil Kumar, Deepak Kumar

Abstract


India has seen historic progress and growth in the past decade. While the growth story has been impressive, there are causes for concern on other dimensions. We have a long way to go in addressing concerns of absolute poverty. Low-income Indian households in the informal or subsistence economy often have to borrow from friends, family or usurious moneylenders. They have little awareness and practically no access to insurance products that could protect their financial resources in unexpected circumstances such as illness, property damage or death of the primary breadwinner.

Keywords


Financial Inclusion, Special Agricultural Credit Plans (SACP), Core Banking Solution

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References


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