Participation of Post offices in Rural Financial Inclusion

Even in the globalization era, including everyone in the ambit of formal financial sector is one of the biggest challenges, particularly in backward and developing countries. In India even today one may find non-monetized demographic area, because of which, a part of the population may not participate in the economic growth of the country. Banking sector of the country has been struggling in this work since independence and accelerated during globalization period. However still the target is far away, particularly, in rural India. In recent years post offices are carrying financial business to boost financial inclusion, because Indian postal department is having a strong root in rural India. The financial inclusion is one step towards inclusive growth. This paper tries to throw light on the role of post offices in rural financial inclusion. The rural post offices encouraged rural citizens of the country to open account in their offices and that could help the rural people to directly receive benefits of different social security and other schemes in the country.