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Evaluation of Financial Inclusive Drives- A Case Study

Dr. V.P.Katti

The Indian economy is growing at a healthy pace after adopting the new economic policy. However, there is widening the gap between the rich and poor. The challenge before the country is to make the growth inclusive. Financial inclusion is now on top of the development agenda of both the Government of India and the Reserve Bank of India. According to the Rangarajan committee report, “NSSO data reveal that 48% of the households do not have access to banking services, majority being rural population. 26% of the population lives below poverty line and just 21% of the rural household have access to bank credit. The banking sector is able to meet only 20% of the credit needs of the rural poor. A robust and comprehensive measure of financial inclusion is important in order to know the current state of affairs with respect to financial inclusion in an economy and to monitor the progress of the policy initiatives undertaken to promote financial inclusion. In this paper, an attempt has made to examine the extent of Financial Inclusion at Micro level from several dimensions. The study reveals that the rural customers are not satisfied with general banking services and the extent of use of innovative services is dismal at grass root level.