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Why Should We Have Financial Inclusion? |
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Answer» Major sections of the INDIAN Economy do not have access to formal BANKING services. To bring them under the banking purview and provide them banking FACILITIES. Financial inclusion initiatives were under taken since 2005-06. Bring the excluded SECTION of the Society within the banking purview would enable banks as financial intermediaries to contribute to economic growth through mobilization and allocation of credits towards various PROJECT financing, thereby providing households, businesses to attain their economic goal. Major sections of the Indian Economy do not have access to formal banking services. To bring them under the banking purview and provide them banking facilities. Financial inclusion initiatives were under taken since 2005-06. Bring the excluded section of the Society within the banking purview would enable banks as financial intermediaries to contribute to economic growth through mobilization and allocation of credits towards various project financing, thereby providing households, businesses to attain their economic goal. |
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