Financial inclusion and related matters: A state-level comparison

Financial inclusion is a tool to offer banking services and financial solutions to every individual in society without discrimination. It focuses on including the economically backward sections of society in the country’s economic process with no signs of inequality. Availability, accessibility, affordability and adequacy of financial institutions and services in all parts of the country and people’s awareness of these resources are critical to financial inclusion. The Government of India, the Reserve Bank of India, and the National Bank for Agriculture and Rural Development have commendable policies and programmes to make financial inclusion a reality. This study analysed secondary data to understand the status of financial inclusion and its variables in Indian states. Apart from providing financial awareness and financial services, promoting income and savings is also crucial in achieving financial inclusion and stability.