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The Role of Small Finance Bank for Achieving Financial Inclusion in India Impact Growth of Our Economy


Affiliations
1 Professor, Business School, Koneru Lakshmaiah Education Foundation, Vaddeswaram, Andhra Pradesh, India
2 Research Scholar, Business School, Koneru Lakshmaiah Education Foundation, Vaddeswaram, Andhra Pradesh, India
3 Business School, Koneru Lakshmaiah Education Foundation, Vaddeswaram, Andhra Pradesh, India
     

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It is estimated that globally over 2.5 billion people are excluded from to access to monetary administrations of which 33% is in India. In spite of the fact that the span and extent of banking has along these lines expanded, the tremendous interest for monetary administrations stays insatiate. It’s anything but an issue of worry that even with 150 homegrown business banks including 19 Public Sector Banks, 20 Private Sector Banks, 44 Foreign Banks, 4 Local Area Banks, 56 Regional Rural Banks and more than 2,700 Co-employable Banks working 40% of the grown-ups have formal ledgers. Financial consideration plays a big part in the country’s inclusive growth the expansion of our economic system. The expansion of India’s agriculture sector is crucial. The availability of high-quality financial services in rural areas will allow a huge number of rural households to expand their businesses. The examination of Small Finance Banks and their role in achieving financial inclusion in India is the topic of this research and there are issues.

Keywords

Affordability, Banking services, Differentiated digital banking, Financial inclusion, Indian economy, Small finance banks.
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  • The Role of Small Finance Bank for Achieving Financial Inclusion in India Impact Growth of Our Economy

Abstract Views: 420  |  PDF Views: 0

Authors

N. Subrahmanyam
Professor, Business School, Koneru Lakshmaiah Education Foundation, Vaddeswaram, Andhra Pradesh, India
D. Umarani
Research Scholar, Business School, Koneru Lakshmaiah Education Foundation, Vaddeswaram, Andhra Pradesh, India
Afreen Sultana
Business School, Koneru Lakshmaiah Education Foundation, Vaddeswaram, Andhra Pradesh, India

Abstract


It is estimated that globally over 2.5 billion people are excluded from to access to monetary administrations of which 33% is in India. In spite of the fact that the span and extent of banking has along these lines expanded, the tremendous interest for monetary administrations stays insatiate. It’s anything but an issue of worry that even with 150 homegrown business banks including 19 Public Sector Banks, 20 Private Sector Banks, 44 Foreign Banks, 4 Local Area Banks, 56 Regional Rural Banks and more than 2,700 Co-employable Banks working 40% of the grown-ups have formal ledgers. Financial consideration plays a big part in the country’s inclusive growth the expansion of our economic system. The expansion of India’s agriculture sector is crucial. The availability of high-quality financial services in rural areas will allow a huge number of rural households to expand their businesses. The examination of Small Finance Banks and their role in achieving financial inclusion in India is the topic of this research and there are issues.

Keywords


Affordability, Banking services, Differentiated digital banking, Financial inclusion, Indian economy, Small finance banks.

References