Awareness of Financial Inclusion Policies among General Public.

Abstract

Finance is the lifeline of all activities; economic, social and administrative. Financial inclusion is the method of mainstream institutional players providing equitable and open access to adequate financial services for all parts of society in general, and disadvantaged communities such as poorer sections & low-income groups in particular, at an affordable rate. Various financial inclusion schemes offered in India by different banks have also been discussed in detail. It was discovered that the population at large is unaware about most schemes and its benefits. This necessitates the opening of far more bank branch network, as well as enabling people to register accounts once they are informed about the additional benefits of the bank's schemes. Even though the citizens were aware of the programs, they chose not to participate in them. In such cases, it is necessary to provide citizens with monetary rewards and deals in order to enable them to become financially self-sufficient. After all, financial literacy necessitates collaboration between the general populace, the Reserve Bank of India, and bank. In future, this study will help to create an understanding about all the financial inclusion policies among the general people.