Financial inclusion is the process of ensuring access to financial services timely and adequate credit where needed by vulnerable groups such as weaker sections and low income groups at an affordable cost. Financial inclusion broadens the resource base of the financial system by developing a culture of savings among large segment of rural population and plays its own role in the process of economic development. Financial inclusion means connecting all individuals, including those living in the remotest of rural areas, to a well-functioning financial system. This would include Easy access to bank accounts for safe parking of savings, Availability of cheap credit through appropriately designed loans for poor & low income households and small entrepreneurs.
Financial inclusion, vulnerable groups, weaker sections, low income groups, economic development, savings, cheat credit, small entrepreneurs
