The Banking Channel of Financial Inclusion:Credit Where Credit’s Due

Gupta, Gaurav (2023) The Banking Channel of Financial Inclusion:Credit Where Credit’s Due. INCLUSIVE FINANCE INDIA REPORT 2023. pp. 13-30.

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Abstract

Financial inclusion is not a new policy measure that the government has suddenly embraced in recent years. Rather it has been a key component of the inclusive growth objectives of the Indian State for decades. Given that the poor suffer from multiple and varying levels of deprivation, a single channel to include the excluded in the formal financial system does not work in a country as vast and diverse as India. Three main channels or models are in operation in the country, led by the banks, microfinance institutions (MFI), and self- help groups (SHG). The focus of this chapter is on financial inclusion via the banking channel while the other two channels will be covered in detail in other chapters.

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Gupta, Gaurav

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