Manifestation of Financial Inclusion among the Small and Marginal Farmers in Theni District Tamilnadu

Abstract

The main focus of financial inclusion in India is to promote sustainable development and generating employment in rural areas for the rural population. Out of 19.9 crore households in India, only 6.82 crore households have access to banking services. As far as rural areas are concerned, out of 13.83 crore rural households in India, only 4.16 crore rural households have access to basic banking services. Over 41% of adult population in India does not have bank account. There are many factors affecting access to financial services by weaker section of society in India. Several steps have been taken by the Reserve Bank of India and the Government to bring the financially excluded people to the fold of the formal banking services newline