Financial Inclusion Advancements:Way Forward

An inclusive financial system is among the top priorities for many countries and considered to be instrumental in achieving equitable growth. Financial inclusion is proved to be a powerful accelerator of economic progress and can help to achieve intense poverty elimination. The Financial inclusion access to a range of financial services includes Savings, Credit, Insurance, Remittance and other banking/payment services to all 'bankable' households and enterprises at a reasonable cost. The Government and the regulators initiatives are contributing factor for the inclusive growth and going forward, transformation for Financial Inclusions with the new thought process, bold reforms, technological advancements and supportive business models. This research paper is an attempt to analyse the Indian Financial Inclusion status and the areas to be utilize for the comprehensive inclusion. Recognizing that 2.5 billion adults worldwide are "unbanked"; the World Bank has put forward a vision for achieving universal financial access by 2020. More than 50 countries, including India, have made ambitious commitments to financial inclusion targets.