Banking sector and financial inclusion in Madhya Pradesh

Banking sector plays an imperative role for financial inclusion in a region's economic development and minimising disparities among the regions. The issues related to the role of financial sector in determining economic growth and financial inclusions have been widely discussed amongst the academicians, practitioners and policy makers across the world. However, consensus emerges that strong financial sector can play an important role in determining the level and growth of the economic development but sharp difference exists with regard to the link between financial development and financial inclusion. The issue which still has not been resolved yet, is the type of regulation and role of state in financial sector which could ensure the growth and equality simultaneously. Financial sector in India has been subjected to all sorts of regulations, laissez faire, social banking, liberalised to mix regimes. This study attempts to analyse the trends in growth of banking sector and banking inclusion in Madhya Pradesh. The paper analyses trends in Index of financial inclusion and its dimension in Madhya Pradesh viz a viz country from 1972 to 2015.