(This Paper was presented in the National Seminar at MGMV, Raani Durgavathi University, Jabalpur, (Madya Pradesh) & Published in the Journal of Asian Business Management - An International Journal (JABM), Volume 7, Number 2, July - December 2015, ISSN: 0974-8636)
-Dr. S. Vijay Kumar
Financial inclusion is a buzzword now and has attracted the global attention in the recent past. C.Rangarajan Committee (2008) defined financial inclusion as, “The process of access to financial services, and timely and adequate credit needed by vulnerable groups such as weaker sections and low income groups at an affordable cost.” The purpose of financial inclusion is to provide equitable opportunities to every individual to avail the facility of formal financial channels for better life, better living and better income. It can be described as the provision of affordable financial services, viz., access to payments and remittance facilities, savings, loans and insurance services by the formal financial system to those who are excluded. Financial inclusion is the road that India needs to travel towards becoming a global player. This paper attempts to study the overview of financial inclusion in India.