The Impact of Financial Inclusion as a tool for Inclusive Development

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Published: Sep 3, 2024
DOI: https://doi.org/10.29070/57t1yf65
Keywords:
financial inclusion, inclusive development, India, policy, low-income people, credit, financial services, economic growth, socioeconomic backgrounds, formal financial system

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Authors

Mr. Kamzalian Tomging

Research Scholar, Mahatma Gandhi University, Byrnihat, Meghalaya

Abstract

The pursuit of financial inclusion in India has a long and storied history. Financial inclusiondescribes the policy of providing low-income people with easy and affordable access to credit and otherfinancial services. The goal of Financial Inclusion is to promote economic growth by making it such thatpeople from all socioeconomic backgrounds have equal access to, use of, and profit from the formalfinancial system. The promotion of economic parity has recently emerged as one of the most pressingissues facing modern society. In India, the concept of financial inclusion presents a challenge since thegreat majority of the population is still denied access to inclusive economic growth. Credit access isincreasingly seen as a tool for economic growth. Consider the effects of financial inclusion on inclusivedevelopment in this paper.

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Issue

Vol. 18 No. 1 (2023): International Journal of Information Technology and Management (IJITM)

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