2. Financial inclusion is defined as the ability of an
individual, household, or group to access appropriate
financial services or products.
3. ces for which they are “bankable,” including savings, short and long-term credit, leasing and factoring, mortgages, insurance, pensions, pces for which they are “bankable,” including savings, short and long-term credit, leasing and factoring, mortgages, insurance, pensions, pces for which they are “bankable,” including savings, short and long-term credit, leasing and factoring, mortgages, insurance, pensions, pces for which they are “bankable,” including savings, short and long-term credit, leasing and factoring, mortgages, insurance, pensions, pces for which they are “bankable,” including savings, short and long-term credit, leasing and factoring, mortgages, insurance, pensions, p
What the UN Says:
“Access at a reasonable cost of all households and enterprises to the range of
financial services for which they are “bankable,” including savings, short and
long-term credit, leasing and factoring, mortgages, insurance, pensions,
payments, local money transfers and international remittances” is defined
Financial Inclusion.
ces for which they are “bankable,” including savings, short and long-term credit, leasing and factoring, mortgages, insurance, pensions, p
In the Indian context, the Rangarajan Committee defines it 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’’.
4. Financial inclusion can be defined as everybody having
access to an appropriate range of financial products and
services, which allows them to effectively mange their
money , regardless of their level of income or social status.
5. A chart is given in below for better understanding about Financial Inclusion:
6. •Access to credit in the formal sector may also open up entrepreneurship opportunities for low income populations and increase the scope for investment.
7. •Access to credit in the formal sector may also open up entrepreneurship opportunities for low income populations and increase the scope for investment.
