Volume : I, Issue : II, July - 2012

Financial Inclusion–Banking Services to the Common Man

Dr. M. Venkata Subba Reddy, Mr. M. S. Udaya Banu

Abstract :

Financial inclusion is the process of ensuring access to appropriate financial products and services needed by all sections of the society in general and vulnerable groups such as weaker sections and low income groups in particular at an affordable cost in a fair and transparent manner by mainstream institutional players. In advanced economies, financial inclusion is more about the knowledge of fair and transparent financial products and a focus on financial literacy. In emerging economies, it is a question of both access to financial products and knowledge about their fairness and transparency. Financial inclusion is delivery of banking services at an affordable cost to the vast sections of disadvantaged and low income groups. Unrestrained access to public goods and services is the sine qua non of an open and efficient society. As banking services are in the nature of public good, it is essential that availability of banking and payment services to the entire population without discrimination is the prime objective of the public policy

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Article: Download PDF   DOI : 10.36106/ijsr  

Cite This Article:

Dr. M. Venkata Subba Reddy, Mr. M.s.udaya Banu Financial Inclusion-Banking Services to the Common Man International Journal of Scientific Research, Vol.I, Issue.II July 2012

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