Question

Penetration of financial inclusion among banks in india

Answer 1

Financial Inclusion is defined as “the process of ensuring access to financial services and timely and adequate credit where needed by vulnerable groups such as weaker sections and low income groups at an affordable cost” (Rangarajan, 2008) in the report of the Committee on financial inclusion in India.

Answer 2

MSME sector which has large employment potential of 59.7 million persons over 26.1 million enterprises, is considered as an engine for economic growth and promoting financial inclusion in rural areas. ... Bank credit to MSME sector witnessed a CAGR of 31.4% during the period March 2006 to March 2012.