The Magnitude of Regional Variation in Financial Inclusion; A Case of India
Keywords:
the Indian economy, and financial inclusion It is not a measure of our success to see if we can increase the wealth of the already wealthy, but rather to see if we can alleviate the suffering of those who are already poor. - FDRAbstract
The concept of financial inclusion becomes a difficulty for the Indian economy because the
bulk of the rural population is still not involved in inclusive growth. There have been a slew of
coordinated efforts by the Reserve Bank of India and the Indian government to promote financial
inclusion since 2005, however these efforts have not produced the desired effects. The paper's goal
is to emphasize the disparities in financial access and use in India, using macro-level statistics, and to
demonstrate how policymakers should pay particular attention to the country's northeastern and
eastern areas. So that the poorer regions and socially disadvantaged sectors, especially those in the
lowest income brackets, have easier access to formal credit through formalized credit schemes.
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