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. It is proven that financial inclusion can drive the next revolution of growth and prosperity in India. Microfinance in India is more than just an economic tool, often representing the empowerment of historically marginalized and financially dependent communities. Small, easy-access loans are provided to segments that are conventionally deemed ineligible for credit. This was seen as a desirable alternative to other financing means such as commercial banks. A staggering 99% of the beneficiaries of microfinance are women in India. This has helped bring financial inclusion to millions of rural families.
Discover why financial inclusion in India is important.