A Study on Financial Inclusion Initiatives and Progress with reference to Indian Banking Industry in digital era

Access to banking, access to affordable credit and access to free face-to-face financial advice as major concerns, the Government of India and Central bank have initiated and implemented Inclusive finance policy. The objective is to deliver financial services at reasonable cost to low income section of the public in contrast to financial exclusion. As the Indian financial system is largely led by banks, the financial inclusion policy direction has obviously been prejudiced towards the bank-led model. This paper evaluates the initiatives taken by the selected Banks in financial inclusion and the efforts made for ICT based financial services, on the basis of the data collected from the RBI's reports and other banks reports. This paper reviews trends in banking sector for financial inclusion, regulation, technology in India. The paper concludes that financial inclusion plays a major role in driving away the poverty from the country. The recent initiatives taken by Government of India boost to promote financial inclusion and surely lead to the position where all Indian have their bank accounts, using of Information Technology enabled services.