An analysis of government initiatives towards inclusive financial system

Developed financial system is a necessity for the economic growth of a nation and wide participation by the people provides stability to and strengthens the system. Financial inclusion is that process through which financial services are made easily accessible for the people, especially vulnerable sections so that their financial conditions can be improved. Financial inclusion has been a matter of debate for a long time. A number of measures have been taken from time to time for inclusive financial system. The present paper highlights various initiatives taken by the government of India and other institutions. It also presents progress and current status of those initiatives. The paper has concluded that the initiatives taken have played significant role towards achieving goal of inclusive financial system.