STATUS OF FINANCIAL INCLUSION IN INDIA: A CONCEPTUAL STUDY WITH SPECIAL REFERENCE TO UTTAR PRADESH
Keywords:
Financial Inclusion, Microfinance, Commercial Banks, Penetration IndexAbstract
Growth story of India of the past few decades does need any introduction. But some serious problems such as low economic growth rate, unemployment, poverty, farmer’s distress and suicide in a large state like UP should be a matter of concern for thinkers, academicians, researchers and policymakers. Studies world over have proven that Financial Exclusion can be remedy to these problems. Proposed research work aims at finding out the status of financial inclusion in India and UP. Apart from developing an understanding of the concept of Financial Inclusion/Exclusion it also investigates the agencies responsible for attainment of Financial Inclusion. This study is mainly based on secondary data. Findings of the research unveil that the current situation of Financial Inclusion in UP and India is grim. The study concludes that there is a hitherto untapped business opportunity for formal institutions to expand their business in financially excluded market.
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