Open Access
Subscription Access
Open Access
Subscription Access
An Evaluation of Financial Inclusion in India:Some Policy Insights
Subscribe/Renew Journal
In the era of digital financial inclusion, one of the main challenges faced by the policymakers is to provide affordable, instantaneous and user-friendly access to financial products and services to the common man. Though there has been an impressive growth in terms of bank branches, Business Correspondents and Kisan Credit Cards amongst others during the last five decades, cent per cent financial inclusion in India appears to be a difficult target to achieve. By following the international best practices, Indian banks may be rated at regular intervals on their efforts to facilitate financial inclusion. The policymakers may seriously think of including moneylenders as part of microfinance institutions, or small finance banks or any other institutional mechanism, as they are now an indispensable part of rural India due to the farmers’ proximity to them and their lack of awareness of various initiatives taken by the government. There should be a thrust on demand-side rather than the supply-side alone to make financial inclusion a real success.
Keywords
Financial Inclusion, Digital Financial Inclusion, Self-Help Groups, SHG-BLP.
User
Subscription
Login to verify subscription
Font Size
Information
- Aghion, P and Bolton Patrick (1997): “A Trickle-Down Theory of Growth and Development with Debt Overhang”, Review of Economic Studies, Vol. 64, No. 4, pp.151-172.
- Ahamed, M M and Sushanta, K Mallick (2017): “Financial Inclusion is Good for Banks Too”, Business Line, November 4.
- Arun, T and R Kamath (2015): “Financial Inclusion: Policies and Practices”, IIMB Management Review, Vol. 27, No. 4, pp.267-287.
- Banerjee, Abhijit V and Duflo Esther (2007): “The Economic Lives of the Poor”, Journal of Economic Perspectives, Vol. 21, No. 1, pp.141-167.
- Banerjee, A V and Newman F Andrew (1993): “Occupational Choice and the Process of Development”, Journal of Political Economy, Vol. 101, No. 2, pp.274-298.
- Basu, P and Srivastava P (2005): “Exploring Possibilities: Microfinance and Rural Credit Access for the Poor in India”, Economic and Political Weekly, Vol 40, No. 17, pp.1747-1756.
- Bhanot, D and V Bapat (2016): “Multiplier Effect of Self-Help Groups”, Economic and Political Weekly, Vol. LI, No. 33, pp.82-85.
- Burgess, R and Rohini P (2003): “Do Rural Banks Matter? - Evidence from the Indian Social Banking Experiment”, American Economic Review, Vol. 95, No. 3, pp.780-795.
- Chakrabarty, K C (2012): Financial Inclusion – Issues in Measurement and Analysis, Keynote Address Delivered at IFC Workshop on Financial Inclusion Indicators, Kuala Lampur, November 5-6.
- Chanakya (1992): Essence of Chanakya Sutras, Vol. 1, pp.254. Accessed from https://greenopia.in/live/gurujinarayana/wp-content/uploads/2017/06/Essence-of-Chanakya-Sutras.pdf.
- Connolly, C and Hajaj K (2001): Financial Services and Social Exclusion, Financial Services Consumer Policy Centre, University of New South Wales, Sydney, Australia.
- Easton Tom (2005): “The Hidden Wealth of the Poor”, The Economist, November 5, London.
- Fisher, T and M S Sriram (2002): Beyond Micro-Credit: Putting Development Back Into Micro-Finance, Vistar Publications, New Delhi.
- Institute for Financial Management and Research (2009): Financial Inclusion in Gulbarga: Finding Usage in Access, Working Paper No. 26, IFMR, Chennai.
- Invest India Market Solutions (2007): “Invest India Incomes and Savings Survey”, IIMS Data Works, Accessed from https://www.iimsdataworks.com.
- Kelkar, V (2009): “Financial Inclusion for Inclusive Growth”, ASCI Journal of Management, Vol. 39, No. 1, pp.55-68.
- Kempson E and Whyley C (2000): In or Out? Financial Exclusion: A Literature and Research Review, Financial Services Authority, London.
- ______ (1999): Kept Out or Opted Out? Understanding and Combating Financial Exclusion, Policy Press, Bristol.
- Leeladhar, V (2006): “Taking Banking Services to the Common Man – Financial Inclusion”, Reserve Bank of India Bulletin, Vol. 60, No. 1, pp.73-77.
- Mohan, R (2006): “Economic Growth, Financial Deepening and Financial Inclusion”, Reserve Bank of India Bulletin, Vol. 60, No. 11. pp. 1-20.
- National Bank for Agriculture and Rural Development (2017): Annual Report 2016-17, NABARD, Mumbai
- Prahalad, C K (2004): The Fortune at the Bottom of the Pyramid: Eradicating Poverty through Profits, Wharton School Publishing, Wharton.
- Puhazhendi V and K C Badatya (2002): SHG-Bank Linkage Programme for Rural Poor – An Impact Assessment, NABARD, Mumbai.
- PWC Report (2016): “Fintech: Redefining Banking for Customers, Decade Edition of CII Banking Summit 2016”, Accessed from https://www.pwc.in/assets/pdfs/publications/2016/fintech-redefining-banking-for-customers-june-2016.pdf
- Qazi, M (2017): “A New Paradigm for Financial Inclusion”, Business Line, August 22.
- Rajan, R (2016): “The Changing Paradigm for Financial Inclusion” - Speech Delivered at the National Seminar on Equity, Access, and Inclusion – Transforming Rural India through Financial Inclusion, National Institute of Rural Development and Panchayati Raj, Hyderabad.
- Rangarajan, C (2008): Report of the Committee on Financial Inclusion in India, Government of India, New Delhi.
- Reddy, Y V (2017): Advice & Dissent: My Life in Public Service, Harper Collins Publishers, Noida.
- Reserve Bank of India (2008): Report on Currency and Finance 2006-08, Vol. V, RBI, Mumbai.
- ---------------, Annual Report, Various Issues, RBI, Mumbai
- Sainath P (2000): Everybody Loves a Good Drought, Penguin India Limited, New Delhi.
- Seibel, H D (2005): SHG Banking in India: The Evolution of a Rural Financial Innovation, Working Paper No.9, Development Research Center, University of Cologne, Germany.
- Singh, Aishvarya (2015): “PMJDY: Improved Financial Inclusion, But Roadblocks Remain”, Accessed from https://www.cgap.org/blog/pmjdy-improved-financial-inclusion-roadblocks-remain.
- Singh, C and G Naik (2017): Financial Inclusion in India: A Case Study of Gubbi, Indian Institute of Management, Bangalore, Working Paper No. 549.
- Subba Rao, D (2010): “Financial Inclusion: Challenges and Opportunities”, Reserve Bank of India Bulletin, Vol. 64, No. 1, pp.1-10.
- Swamy, V (2014): “Financial Inclusion, Gender Dimension, and Economic Impact on Poor Households”, World Development, Vol. 56, pp.1-15.
- Thingalaya, N K, M S Moodithaya and N S Shetty (2010): Financial Inclusion and Beyond: Issues and Challenges, Academic Foundation, New Delhi.
- United Nations (2006): Building Inclusive Financial Sectors for Development, United Nations Capital Development Fund and the World Bank Institute, New York.
- World Bank (2014): “Financial Inclusion”, Global Financial Development Report 2014, World Bank, Washington D.C., pp.15-50.
- ________ (2008): Finance for All – Policy and Pitfalls in Expanding Access, World Bank, Washington D.C.
- Yunus, M (1998): Banker to the Poor: The Autobiography of Muhammad Yunus, Aurum Press, London.
Abstract Views: 410
PDF Views: 0