International literature review on Financial Inclusion

Abstract

The Financial Inclusion sector has been witnessing a lot of progress with respect to opening zero frill account for all people, Introduction of DBT (Direct benefit transfer), in which money is directly being credited to the end customer account and hence eliminating the middle man and minimizing corruption. Apart from the coverage of the scheme for the households, there is a need to assess its impact on various socio economic indicators including livelihood opportunity, health, education and overall quality of life. To address the gap in assessing the impact of such a scheme on the income generation activities of the beneficiaries, worldwide many researches took place by different researchers.

Now many developed and developing countries have taken many initiative and reform in FI sector to bring meaningful impact to their people. It also acts as a main bridge line in alleviation of poverty by enhancing their income.  Some country strategies have given successful results which can be outstanding lessons and learning for other countries to follow and expand their own horizon. This paper, through an extensive review of international research on financial inclusion, mainly focused on bringing best practices that can be borrowed from other nations to give thrust on financial inclusion sector in India