Current Scenario Of Financial Inclusion In India Vis-À-Vis North Eastern Region

Abstract

It is essential to explain the term financial inclusion in correlative dimension. Depending on the status of development, the level of financial inclusion varies from country to country. For e.g., in an advanced country if utility bills are not paid through banks may be regarded in a position of financial exclusion, however, the same case might not be thought as financial exclusion in any underdeveloped country, if financial system yet to be need developed to provide modern financial services. Through this study the researcher has tried to present the current scenario of financial inclusion in India vis-à-vis North Eastern Region for a period of 5 years from 2016 to 2020, derived from the review of secondary sources of data. Interpretation and analysis of data have been done by applying statistical tool, Compound Annual Growth Rate (CAGR). After analysing and interpretation of relevant indicators of financial inclusion it is revealed that there is a considerable growth of supply and demand of financial services over the study period in North Eastern Region (NER) as well as all over India.