Financial Inclusion Through Financial Literacy: Some Recent Initiatives in India
DOI:
https://doi.org/10.37591/ecft.v6i2.2271Abstract
Abstract
Financial inclusion basically indicates the availability of banking services at a reasonable cost to the low income and disadvantaged groups. Thus, financial inclusion is having a savings or current account with any bank. Financial inclusion is an essential driver to accomplish financial development. Therefore, for economic development, there should be enough flow of financial and credit facilities. But this is not possible until and unless financial literacy is achieved in this respect. Financial literacy is the key to the development of financial inclusion in India. In this backdrop, the present study is an attempt to examine the financial literacy initiatives that are taken in the Indian context.Financial inclusion is an important step to reduce poverty in India. Despite significant progress made in financial inclusion through the implementation of various financial literacy initiatives, banks are still fighting to fulfill the dream of 100% financial inclusion.To turn the dream of 100% financial inclusion into reality, the rural poor should get basic education from NGOs/SHGs/etc. about the several benefits of financial products and services offered by the banks and post offices. This will go a long way to tap the untapped potential among the rural poor of our country.
Key Words: Financial Inclusion, Financial Literacy, Financial Literacy Centres, National Centre for Financial Education.
Cite this Article
Sudipta Ghosh. Financial Inclusion Through Financial Literacy: Some Recent Initiatives in India. E-Commerce for Future & Trends. 2019; 6(2): 30–33p
Downloads
Published
Issue
Section
License
Declaration and Copyright Transfer Form
(to be completed by authors)
I/ We, the undersigned author(s) of the submitted manuscript, hereby declare, that the above manuscript which is submitted for publication in the STM Journals(s), is not published already in part or whole (except in the form of abstract) in any journal or magazine for private or public circulation, and, is not under consideration of publication elsewhere.
- I/We will not withdraw the manuscript after 1 week of submission as I have read the Author Guidelines and will adhere to the guidelines.
- I/We Author(s ) have niether given nor will give this manuscript elsewhere for publishing after submitting in STM Journal(s).
- I/ We have read the original version of the manuscript and am/ are responsible for the thought contents embodied in it. The work dealt in the manuscript is my/ our own, and my/ our individual contribution to this work is significant enough to qualify for authorship.
- I/We also agree to the authorship of the article in the following order:
Author’s name
1. ________________
2. ________________
3. ________________
4. ________________
| We Author(s) tick this box and would request you to consider it as our signature as we agree to the terms of this Copyright Notice, which will apply to this submission if and when it is published by this journal. |
