Page 5 - Life Insurance Today March 2016
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Cover Story
Pradhan Mantri
Jan Dhan
Yojana- An
Overview
Introduction: financial inclusion of all those who presently stand finan-
cially excluded.
Financial inclusion of all individuals and all sections of
population is very vital from the point of view of ensuring Financial inclusion refers to the process of bringing all
inclusive growth of national economy. Limited access to those who are outside into the financial and banking fold
affordable financial services such as savings, loans, remit- and giving them opportunities to utilize various banking
tance and insurance services by the vast majority of the and financial services at affordable cost. The history of fi-
population in the rural areas and unorganized sector is nancial inclusion in India is actually much older than the
believed to be acting as a constraint to the growth mo- formal adoption of the objective. The two phases (1969
mentum in sector like Agriculture, primary and Small and to 1984) nationalization of banks.
Medium Enterprises.
Adoption and implementation of inclusive practices by all The various schemes of the government such as incorpora-
banks and financial institutions and also by insurance com- tion of RRBs, lead bank, service area approach and forma-
panies and mutual funds go a long way in bringing about tion of SHGs were aimed at providing banking services to
common man. There has been a tremendous progress in
About the author the financial inclusion plans to expand the access to Bank-
ing network through the Banking Correspondent Model.
Dr. D. D. Kulkarni
Objectives of the study:
Assistant Professor of commerce
Shri L. K. Khot College of Commerce, Sankeswar To ascertain the inclusive growth in India and its need.
"No one can make you feel inferior without your consent."
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