Abstract
“The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little.” These words of Franklin D.Rosseuelt are in the line of present economic condition of underdeveloped countries like India. India's economy, which is expanding quickly, must adhere to the philosophy of everyone's support and growth. Financial inclusion (FI) has proven to be the most effective weapon in the fight for inclusive growth and sustainable development in the present scenario. It is regarded as the precursor that would enable wider participation by vulnerable groups such as weaker portions and low income group in the financial system. The objective of this study is to understand the present status of financial inclusion in India, flaws that are impeding the progress of financial inclusion and schemes providing access to inexpensive financial service like banking and insurance.
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