Volume : 2, Issue : 7, July - 2013

Financial Inclusion and Rural Development

Dr. Nagaraja. S, Dr. Pallavi. S. Kusugal

Abstract :

The financial inclusion is meant for to ensure a range of appropriate financial services is available to every individual and enable them to understand and access those services. Financial inclusion not only mean that opening of saving bank account but imply creation of awareness about the financial products, education and guidance on money management, offering debt counseling, etc. by banks. In rural areas revolutionary step taken place by the government through introducing the micro credit facility in two ways those are ‘Self Help Groups–bank linkage’ and ‘Microfinance institutions’. Rural development requires this type of provision that is formation of Self help groups. In the rural areas it has created remarkable change. In the recent phase of globalization, self help groups have given answer to the poverty. This has created self–reliance, self–respect, entrepreneurship among poor rural people, not only in India but also in all developing countries.