The Progress of Financial Inclusion with Technology in India

Abstract

Financial inclusion is a difficulty for the Indian economy since the bulk of the rural people is still excluded from inclusive growth. Since 2005, the Reserve Bank of India and the Government of India have taken a number of coordinated steps to promote financial inclusion. Financial inclusion aids the disadvantaged in escaping poverty and advancing economically. When it comes to volume and scalability, information technology will aid in the achievement of financial inclusion goals. The use of a computerised data base will make it easier to keep track of records and maintain the system at a low cost. People, constraints restricting access to financial services, benefits, the role of technology, and RBI policies for attaining greater financial inclusion are all discussed in the report.