Financial Inclusion
RESEARCH PAPER ON ROLE OF GOVERNMENT IN
FINANCIAL INCLUSION
Role of Government in financial inclusion
Abstract:- This research paper contains the full information about the financial inclusion of the world’s economic. In this research paper we describe the financial inclusion basic meaning, definitions, scope & significance. Now we move towards the second phase which include role of government & role of banks in financial inclusion. we also include the reforms that has been done by the government and the other government organizations .
We also include the main article that has been given by the different ministers about financial inclusion & its reform.
Financial Inclusion
Meaning: Financial inclusion is a policy adopted by many countries to include more people in the financial set up of the country. It aims at tackling poverty and deprivation in the country. In simple terms financial inclusion refers to making the finance or the financial/banking sector more accessible to people. For example: Debit cards, internet banking and direct debit facilities are now common, convenient and cheap ways of paying for goods and services. Yet there are still people who are excluded from using these services. People who are losing out as they are unable to take advantage of the benefits offered by the range of financial products available.
In developing and poor countries like Bangladesh, Nepal, Afgan etc there are many people who do not even have a bank account or who are unable to take advantage of the loans and
deposit benefits offered by banks due to various reasons like lack of knowledge, fear, lack of proximity etc. Today, personal debt is at a record high and borrowing without a bank account means using high interest lenders. Many of the people in this position live in our poorest communities and find themselves without choice or access
FINANCIAL INCLUSION
Role of Government in financial inclusion
Abstract:- This research paper contains the full information about the financial inclusion of the world’s economic. In this research paper we describe the financial inclusion basic meaning, definitions, scope & significance. Now we move towards the second phase which include role of government & role of banks in financial inclusion. we also include the reforms that has been done by the government and the other government organizations .
We also include the main article that has been given by the different ministers about financial inclusion & its reform.
Financial Inclusion
Meaning: Financial inclusion is a policy adopted by many countries to include more people in the financial set up of the country. It aims at tackling poverty and deprivation in the country. In simple terms financial inclusion refers to making the finance or the financial/banking sector more accessible to people. For example: Debit cards, internet banking and direct debit facilities are now common, convenient and cheap ways of paying for goods and services. Yet there are still people who are excluded from using these services. People who are losing out as they are unable to take advantage of the benefits offered by the range of financial products available.
In developing and poor countries like Bangladesh, Nepal, Afgan etc there are many people who do not even have a bank account or who are unable to take advantage of the loans and
deposit benefits offered by banks due to various reasons like lack of knowledge, fear, lack of proximity etc. Today, personal debt is at a record high and borrowing without a bank account means using high interest lenders. Many of the people in this position live in our poorest communities and find themselves without choice or access