Gayathri, B and GOMATHI, D FINANCIAL INCLUSION IN WOMEN EMPOWERMENT.

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Abstract

Financial inclusion is making available banking facilities at inexpensive cost to the large section of low income group people. Financial inclusion mainly focuses on the poor who do not have formal financial institutional support. Financial access is necessary for sustaining equitable
growth as “fortune lies at the bottom of the Pyramid." RBI has launched a financial inclusion drive targeting one district in each state for 100% financial inclusion. it is expected that about 500 million new customers would be brought under financial inclusion. Banks have been permitted to appoint business correspondents and business facilitators to expand their outreach in rural areas. In 2006, RBI permitted banks to use the services of non-government organizations, microfinance institutions, retired bank employees, ex-servicemen, retired government employees, and
other civil society organizations as business correspondents in providing financial and banking services. RBI has further enlarged the scope of the Business Correspondents model by permitting banks to appoint individual kirana/medical/fair price shop owners, individual Public Call Office (PCO) operators, agents of Small Savings schemes and insurance companies, individuals who own petrol pumps, retired teachers and self- help groups linked to banks as Business Correspondents (BC). The correspondents are permitted to carry out transactions on behalf of the bank as agents.
The business facilitator refer clients, pursue the clients' proposal and facilitate the bank to carry out its transactions, but finally the responsibility of putting through transactions rest with the bank staff. This paper examines women empowerment associated with financial inclusion. It will study the measures taken by banks in rural areas to uplift the weaker segment and study the perception of the target segment.

Item Type: Article
Divisions: PSG College of Arts and Science > Department of Commerce
Depositing User: Mr Team Mosys
Date Deposited: 08 Apr 2022 08:30
Last Modified: 11 Apr 2022 07:11
URI: http://ir.psgcas.ac.in/id/eprint/705

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