Impact of Financial Inclusion in Bareilly District

Abstract

The first fundamental requirement of development sponsorship is universal access to finance. This makes development quick and inclusive. Therefore, the goal of inclusive development is possible only in financial inclusion. According to the Reserve Bank of India, “Financial inclusion refers to a large group of low-income and weaker sections who are deprived of access to banking services and benefits from the banking system in general. Providing banking services at an affordable cost.” In other words, financial inclusion means “to ensure convenient and easy access to people hitherto deprived of financial services and products.” That is, low income and vulnerable people. Financial inclusion is the easy access to credit and financial services at affordable rates for the class. Therefore, under this financial services are made available at low cost.