Financial inclusion India: Read conceptual article here. The main objective of financial inclusion India is to provide finance on easy conditions to weaker section of the society. This is an agenda of present government. To make it successful, government of India has launched various programmes and schemes.

Features of financial inclusion India:

  • It enables improved and better social development across the country, in an equitable manner.
  • Enables Empowerment under privileged sections of society including women.
  • Making them self sufficient and well inform to take financial decision.
  • Ensure access of a wide range of financial services related to payment account, insurance and pensions.

Socio- Economic impact of Financial inclusion India:

The expansion in banking sector triggers economic growth and thus social changes. Three social security schemes under Jan Dhan Yojna has potential to create impact in the society, is proved. Approx 10.4 people are covered under three schemes launched by the Prime Minister of India. These three schemes are:

  • Pradhan Mantri Suraksha Bima Yojna: The main objective of this scheme is to provide Accidental Insurance with a premium of 330 per year.
  • Pradhan Mantri Jeevan Jayoti Bima Yojna: It ensures life Insurance of Rs. 2 lakh with a premium of Rs. 12 per annum.
  • Atal pension Yojna: This invites subscriber to open account and deposit minimum or maximum amount of money in a bank till 20 year or more.

Note: Approx.. 16 Crore accounts have been opened under Pradhan Mantri Jan Dhan Yojna.

Role of technology: Financial inclusion India

Technology has been at the edge of financial inclusion. Jan Dhan, Adhar and Mobile included in process of financial inclusion, features improvement in society. Near field communication (NFC) and immediate payment services (IPS) registration has potential to offer transaction via digital method. Many states are co-operating to make India technologically advance.


Financial Inclusion in India is expected to make significant changes in the economy of India.

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