Author(s) :   Dr. Varun Saini¹, Yashika Guleria²

Abstract : As we consider finance as the lifeblood of a modern economy, therefore, banking system is the linchpin of any development strategy. Banking system helps to mobilize financial surpluses of an economy and transfers them to areas of financial deficit. It promotes saving by providing a wide variety of financial assets to the general public. The present study explores the status quo of financial inclusion throughout the country during the period of 2015-2021. It also explores the secondary data of two important aspects related to financial inclusion: financial literacy and banking penetration. In addition to this, the current performance status of Public Sector Banks and Scheduled Commercial Banks has also been taken into consideration. However, the analysis concludes that the banking institutions have yet to travel a long way in bringing non-monetized sector into monetized sector and financial inclusion is a big road which India needs to travel to make it completely successful.

Keywords:Financial Literacy, Financial inclusion, Banking Penetration, Inclusive Growth.

DOI : https://doi.org/10.61161/ijarcsms.v9i6.2

Pages : 6-15

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