..........Before looking into the issue in the Indian perspective, we must understand what we mean by the financial inclusion. It is simply the delivery of financial services—Credit, Saving, Insurance, remittance etc. at the affordable costs to the disadvantaged section and the low income segments of society. Dr K C Chakarbarty, RBI Deputy Governor, defined the term as “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.” Hence it brings the positive changes to the lives of the served which ultimately lead to the social, political and educational inclusion. It is nothing but to ensure growth with equity.................
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