Role Of Public Sector Banks In Financial Inclusion
Keywords:
Financial inclusion, public sector banks, trend percentageAbstract
This report is about the role of public sector banks in financial inclusion. Banks are backbone of any economy and play major role for the growth of economy. Despite of many efforts; India has faced several challenges in upgrading the standards over financial inclusion and the major constrain is the large number of population size which don’t have an easy access to reasonable finance. Moreover people in India are not much aware about the financial education. We have evaluated the measure taken by public sector banks because they are much reliable than private and foreign banks. It became necessary to evaluate what the government, RBI and public sector banks are contributing to five financial services. In this report we have discussed about the “Pradhan Mantri Jan Dhan Yojna” which aims to provide financial services to each and every part of country. Moreover banks are increasing their branches and arranging campaigns for education of financial services to citizens of India. Financial inclusion is possible only through proper mechanism and governance of banking sector. Thus, article concludes the various initiatives taken by R.B.I and various banks for encouraging financial inclusion services; so as to achieve rural, social and economic growth.
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