Business Correspondent Model vis224;vis （商业记者模型vis 224;稳定性方面）.pdf

International Journal of Scientific and Research Publications, Volume 4, Issue 1, January 2014 1 ISSN 2250-3153 Business Correspondent Model vis-à-vis Financial Inclusion in India: New practice of Banking to the Poor Naveen Kolloju Doctoral Fellow, Centre for the Study of Law and Governance, Jawaharlal Nehru University, New Delhi Abstract - Financial inclusion i.e., access to adequate and timely formal banking services are not within their „reach‟.1 According credit, and other financial services is of utmost importance for to this report, structural barriers prevent the poor from accessing socio-economic development of poor and unbanked sections. It banking facilities, thereby resulting in financial exclusion. The enables them to alleviate their poverty levels through self- study further argues that the poor do not have savings bank employment generation and promotes them as a part of rural accounts, let alone insurance policies (Ibid). banking system. Accordingly, Indian Government is being The increasing body of literature delves into the causes for initiated various financial measures in the banking sector, and financial exclusion. A recurring theme in financial exclusion is different microfinance models have been playing an active role „access to institutional finance‟ and lack of it, which not only in providing microfinance and other financial services to the leads to income inequality but also results in slower economic rural poor. However, despite these efforts, a large n