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- Title
Financial Inclusion in India: Growth Vs. Sustainability.
- Authors
Jha, Babita; Bakhshi, Priti
- Abstract
We all endorse that Financial Inclusion is the catalyst for inclusive growth and sustaining this inclusive growth may result into social inclusion. It is often said that Growth and Sustainable Development cannot go hand in hand and through this article, we have made an attempt to study the growth in Financial Inclusion and whether this growth is sustainable or not. The study mainly focuses on quantitative inclusion vs. social inclusion for sustainable purpose. To study the same, we have collected secondary data. Data on key parameters of Financial Inclusion for past five years are compiled and analysed using average, percentage, CAGR, trend analysis i.e. using quantitative as well as qualitative methodologies etc. Several studies have been done on Financial Inclusion and its assessment in the past but we have tried to assess financial inclusion on parameters like Gender, number of Accounts under PMJDY, State wise penetration etc before demonetization and after demonetization. An attempt is also made to study the growth sustainability. A sudden growth is seen in Financial Inclusion due to demonetization but we found that this growth rate is not sustainable and was there only for a limited period post demonetization. The study also covers the factors that can stimulate the Financial Inclusion including Technology, Adhar and Mobile penetration. Study also covers the role of Financial Institutions, SHGs, SBLC, CBOs, NGOs etc in Financial Inclusion.
- Subjects
INDIA; ECONOMIC development; SOCIAL integration; FINANCIAL institutions
- Publication
Wealth: International Journal of Money, Banking & Finance, 2018, Vol 7, Issue 2, p16
- ISSN
2277-9388
- Publication type
Article