Financial Inclusion as a Tool of Upliftment of Vulnerable Sections: Evidence from Waynad District of Kerala

Financial Inclusion is the delivery of financial services at affordable costs to vast sections of disadvantaged and low income group. The lower income category has been having under the constant shadow of financial duress mainly because of absence saving. The study is intended to throw a light on impacts of Financial Inclusion on Socio Economic development among SC/ST Community through Self-Help Groups in Wayanad district of Kerala, India. Financial inclusion is the only way the country can ensure all its citizens benefit from its comparatively healthy GDP growth rates. The study proved that there is a remarkable hike in the income level, pattern of consumption and social involvement after joining Self Help Groups. The study found that with this initiative the poorer sections of the society will get benefit from their development and growth.