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Asian Journal of Research in Banking and Finance
Year : 2017, Volume : 7, Issue : 5
First page : ( 34) Last page : ( 42)
Online ISSN : 2249-7323.
Article DOI : 10.5958/2249-7323.2017.00027.X

A Comparative Study of Financial Inclusion in the Context of Formal Banking Sector in South Asian Countries

Soni Chandrika*, Dr. Nath Padmini Ravindra**

*UGC Junior Research Fellow, Department of Economics, Faculty of Social Sciences, Banaras Hindu University, Varanasi, India. chandrika.thesis@gmail.com

**Associate Professor, Department of Economics, Mahila Mahavidyalaya, Banaras Hindu University, Varanasi, India

Online published on 12 May, 2017.

Abstract

Financial Inclusion was defined by the Rangarajan Committee Report as the process of ensuring access to financial services and timely adequate credit to weaker section at affordable cost. The main objectives of this paper are to conceptualizing financial inclusion; identifying the barriers to financial inclusion and also to study inter-country disparity in Financial Inclusion in South Asia. It was found that India falls in the category of high financial inclusion. Although India is well ahead of its immediate neighbours, there is still a long way to go. This thinking is reflected in the policy of the government as well. Further, the paper concluded by suggesting measures and remedies to increase the extent of financial inclusion in India.

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Keywords

Index of Financial Inclusion (IFI), Financial Exclusion.

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