Avenue for inclusive growth financial inclusion

Growth and prosperity of every citizen can led a country on the path of success. For the overall growth and development of any country inclusive growth is required. Finance is that exclusive factor which has the power to be sole barometer of upliftment of an economy. Financial activities and financial institutions are that vigorous pillar of an economy, growth of which is the key driver for achieving the inclusive growth of any nation. The term “Financial Inclusion” is attributed basically providing financial services to deprived, poor and vulnerable groups of society. The financial inclusion is not new for India, its roots are deep behind about many years ago but initially the perspective towards this was narrow. At that time it was only confined to opening new branches in the unbanked areas of country. With the passage of time, RBI and Government of India has taken so many stony steps to support and strengthen the financial inclusion such as starting up of no frills accounts, providing banking services through the business correspondents, ease of KYC, Electronic benefit transfer etc.. The shining star among all the efforts for inclusive growth is the launch of Pradhan Mantri Jan Dhan Yojna. This paper is an effort to know the overall concept of financial inclusion. The prime objective of this paper is to study what has been done in India for inclusive and sustainable development through financial inclusion.