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VOL. 2, ISSUE 5 (2017)
Rural regional banks and financial inclusion process in India
Authors
Krishan Kumar
Abstract
Financial Inclusion is not new concept but in India it comes in limelight and got prime importance in 2005 when Rangarajan Committee was set up to review the banking practices.
In the economy like ours, which is known to be fastest growing emerging economy in the world, the finance exclusion could be a big hindrance in the way of growth because it is a well known fact that exclusion from the banking system results in loss of the country’s gross domestic product (GDP). The Committee on Financial Inclusion, Chairman: Dr. C. Rangarajan defined financial inclusion as the process of ensuring access to financial services and timely and adequate credit where needed by vulnerable groups such as weaker sections and low income groups at an affordable cost. But financial inclusion is one of the biggest challenges of Indian financial system and rural regional banks can help in achieving this objective effectively because rural regional banking has been playing a crucial role in the development of rural economy. So, an attempt has been made in this paper to assess the role of rural regional banks in financial inclusion process in India. Role of banks in financial inclusion process in India is examined on the basis on the data available from the Institutional sources such as Reserve Bank of India (RBI), NABARD, RRBs, UCBs and PACS from different viewpoints namely branch penetration, ATM penetration, Population per branch, distribution of banking branches in India.
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Pages:697-700
How to cite this article:
Krishan Kumar "Rural regional banks and financial inclusion process in India". International Journal of Academic Research and Development, Vol 2, Issue 5, 2017, Pages 697-700
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