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VOL. 6, ISSUE 1 (2024)
India's financial inclusion and small finance banks
Authors
Dr. Pushpa Dewangan, Dr. Balbhadra Prasad Dewangan
Abstract
Under the direction of the Indian government, the Reserve Bank of India
established the specialized bank known as Small Finance Banks (SFBs). They are
made to offer banking services with the express goal of enhancing rural and
semi-urban communities' saving practices. SFBs provide underserved populations,
including small companies, small farmers, micro-industries, and organizations
in the unorganized sector, with basic banking services including deposit acceptance
and loan provision. India's small finance banks have been helping to close the
financial inclusion gap in the nation. Even with the aim of becoming a
developed nation, millions of Indians still lack access to fundamental
financial services. The Reserve Bank of India has chosen small finance
institutions to fulfill the goal of financial inclusion in order to solve this.
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Pages:86-90
How to cite this article:
Dr. Pushpa Dewangan, Dr. Balbhadra Prasad Dewangan "India's financial inclusion and small finance banks". International Journal of Educational Research and Development, Vol 6, Issue 1, 2024, Pages 86-90
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