A wide agreement exists among economists that financial development prompts economic growth.
According to Rajan and Zingales (2003), development of the financial system contributes to economic growth.
Our understandings and analysis on the topic are presented here below in the following sections.
In Section-II, the importance of `Finance’ for economic growth has been established with adequate literature review.
Poverty and inequality are among the most discussed topics in Economics.
Bloom The Essay Connection - Financial Inclusion College Essays
This thesis aims to investigate the empirical relationship between financial inclusion, poverty and gender inequality.
Franklin Roosevelt, the popular president of United States of America in 1932, referred to the American poor as the forgotten man at the bottom of the economic pyramid.
Today the term `bottom of the pyramid’ refers to the global poor most of whom live in the developing countries. Stilglitz opines that, if economic growth is not shared throughout society then development has failed.
These large numbers of poor are required to be provided with much needed financial assistance in order to sail them out of their conditions of poverty. Accordingly, there is felt a need for policy support in channeling the financial resources towards the economic upliftment of resource poor in any developing economy.
This study is an attempt to comprehend and distinguish the significance of Financial Inclusion in the context of a developing country like India wherein a large population is deprived of the financial services which are very much essential for overall economic growth of a country.