Introductory Lines for Financial Inclusion

It is well understood that finance has a very vital role in any economy and the key to
sustainable economic development depends upon extent of financial inclusion. Financial
inclusion is a global issue that has received a lot of attention over the last decades. Financial
inclusion over the years has become a much wider term than simple access to a bank account.
The broad objective of financial inclusion is easy access to financial services for every one
irrespective of geography and demography. Policy makers have taken a series of innovative
and concrete steps to achieve the objective of comprehensive financial inclusion but
unfortunately financial inclusion in terms of reach and coverage still remained limited. In the
recent past, the financial sector has experienced many avalanches of technological
innovations. Fin-Tech is also one of them which has come up with new and innovative
business model which can result into better service performance and customer satisfaction.
Still lot is to be done in this are for achieving an inclusive development in the economy but
while moving from financial exclusion to financial inclusion, care should also be taken that it
should not become illusion only.