Financial Exclusion

Before understanding the process of Financial Inclusion, there is need to understand the phenomena of ‘Financial Exclusion’. According to the Census 2011, 65 % of Indian adult were excluded out of financial inclusion. There is one bank branch per 14,000 persons. Just 18 percent are debit card holders and less than 2 percent are credit cards holders. In India, the total branches of commercial banks including RRB‟s and SCB‟s has still stood only 48000 in a country to provide service to 6 lakh villages. (one bank branch over the 12.5 villages.) It was due to multiple factors: Refer to the chart given below: