Financial inclusion and Jan Dhan Yojana

Financial inclusion and Jan Dhan Yojana

The term financial inclusion has received enormous responses across the globe in the recent past. Financial inclusion is a socio-economic terminology which means providing accessibility of financial services at affordable cost to the low income group in the society. Worldwide, more than two million people do not have the accessibility to the formal financial system. They either live a very complex sort of financial lives or rely on informal financial services. Such exclusion from formal financial system makes their life measurable and it becomes very difficult for them to meet their financial desires. Financial exclusion has a direct correlation with poverty.