Volume 20 No 22 (2022)
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Dr Shikha Arora Bakshi & Dr. Nitasha Khatri
The Financial Inclusion is a process to bring the weaker, disadvantage and vulnerable sections of the society within the domain of organized financial system. Financial Inclusion may also be defined as the process of ensuring access to financial services, timely and facilitating adequate credit where needed by vulnerable groups such as weaker sections and low-income groups at an affordable cost. Access to finance, especially by the poor and vulnerable groups, is an essential requisite for promoting entrepreneurship activities, employment opportunities, economic growth, poverty alleviation and social upliftment. Financial inclusion is an area of research that has been of immense interest to researchers, academicians, and policy makers. Financial inclusion is a crucial tool for establishing a sound financial system and overcoming financial illiteracy. By encouraging a significant portion of the rural population to develop the saving habit, it expands the financial system's resource base. Also, this might be crucial to the process of economic development. Financial inclusion also safeguards low-income people' assets and other resources in tough situations by bringing them within the boundaries of the formal banking sector. It is well known that the deprived class in Rajasthan is not particularly inclined to education, economic prosperity, or social upliftment; as a result, these individuals are financially excluded, particularly in the state of Rajasthan. The present study aims to analyse the awarenessand access to financial services among rural people inJaipurdistrict ofRajasthan. The study also focuses on analyzing the effectiveness of schemes of RBIand Government Indialike PMJDY, Bhamashah Yojana, No frills Account etc. in promoting financial inclusion among the rural people.
Financial Inclusion, PMJDY, No frills, RBI, Financial System
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