Year: 2015 | Month: December | Volume 60 | Issue 4

Fostering Inclusiveness in Uttarakhand: A Focus on Government Schemes on Financial Inclusion


DOI:10.5958/0976-4666.2015.00087.X

Abstract:

Financial Inclusion has been accorded high importance by RBI to aid inclusive growth of the economy. There have been formidable challenges in this area such as bringing sections of society that are financially excluded within the ambit of the formal financial system, providing financial literacy and strengthening credit delivery mechanisms. In the present study, secondary data on various government schemes on Financial Inclusion in Uttarakhand state as whole and district Udham Singh Nagar in particular were analysed. The study highlights the proportion of schemes of Udham Singh Nagar to that of Uttarakhand, wherein, figures of KCC and DRI of Udham Singh Nagar remarkably contribute in the achievement of targets of Uttarakhand. Uttarakhand has done well in regard to deepening of credit and extending other banking services since its formation. There is no end of schemes, plans, and regulations aimed at providing financial services and products to the poor people. For better penetration of banking services in the region, few schemes are running in the State and district of which PMJDY, the latest initiative by Central Government, has been executed in the Mission Mode. As the progress of PMJDY in India and Uttarakhand has shown splendid figures, District Udham Singh Nagar also moves in the similar direction of progress, covering 100 % targeted households in Uttarakhand. 





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