The key driver of India s vision of an inclusive economy is Financial Inclusion. Inclusive growth aims at including everyone, more so the excluded class in the process of development. It is the holistic development process on the foundations of equity and justice. It seeks to cement the divisions in the society. The important objectives of inclusive growth are reduction in poverty and disparities of income as well as ensuring the minimum standard of living for every individual. Empirical evidence has revealed that countries with large proportion of population excluded from the formal financial system also show higher poverty ratios and higher inequality (Chakrabarty, 2011). Financial inclusion aspires three ‘A’s namely 1) Accessibility 2) Affordability and 3) Availability of financial products to the citizens of the country. Financial Exclusion have made it ‘NA’ namely 1) Non- Accessibility, 2) Non-Affordability and 3) Non-Availability of financial products to two third of India’s population. It leads to massive poverty and unemployment in the economy. Money lenders squeeze interest from the borrowers. Corruption will be rampant. Government schemes will not reach the designated beneficiaries. The end result is that economic development of the Indian economy is hampered India have 62,828 public sector branches, 15777 RRB Branches, 11842 private bank branches , 318 foreign bank branches and 55 local area banks apart from the 6 lakh credit cooperatives at the end of June 2011(Economic Survey2011-12). But only 37.2 percent of all the commercial banks are working in rural areas, where 68.84 percent of people are residing in the rural areas in India (2011 Census).But by any financial indicator, India is highly excluded country. To quote few By 2010, there were 72,825 financially excluded villages, 51% farmers did not seek credit from institutional or non institutional sources, 40 % of Indians have check in accounts, Only 59 % adult population has bank accounts in urban areas, Only 39 % adult populations in rural areas have bank account, 80 percent of Indian population is without life, health and non life insurance cover , Only 10% Indians have life insurance cover, Only 0.6% has non life insurance, Only 13 % Indians have debit cards, Only 2% Indians have credit cards.The important policy suggestions suggested are Brick and mortar branches should be established in every village panchayat, Joint accounts in the name of husband and wife or parents and children should be encouraged initially. Adequate infrastructure in term of Business Correspondents with broad band connectivity to every village along with uninterrupted power supply should be provided. Business Correspondents should be a localite, who is familiar with the land and people help to further the cause of financial inclusion. BC should be trained properly and also give them a suitable remuneration.The future of India lies in the success of Financial Inclusion. Hence all the stake holders, academicians, researchers, policy makers, bankers join together and do their part for the successful Financial Inclusion of unbanked areas and its people. The universities and colleges should adopt few unbanked villages and convince and cajole them to open the account and use the financial services
