Financial Inclusion Through Insurance & Pension Schemes
European Business & Management
Volume 3, Issue 6, November 2017, Pages: 105-112
Received: Sep. 27, 2017; Accepted: Oct. 27, 2017; Published: Nov. 23, 2017
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Authors
Miryala Shekar, Department of Accounting & Finance, College of Business Administration, University of Hail, Hail City, Kingdom of Saudi Arabia
Sabada Veeramani, Department of Finance & Accounting, Aristotle PG College, Hyderabad, India
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Abstract
The concept of Financial Inclusion is not a new one, which has become a catchphrase now and has attracted the global attention in the recent decades. Lack of accessible, affordable and appropriate financial services has always been a global problem. In this digital era, the banking sector has grown up tremendously but even in 21st century, less-than 2/3rd of the house hold in the India has access to banking facilities. Exclusion of large no of community from any access to financial services inhibits the growth of the country and there is evidence that financial Inclusion is crucial to eradicate poverty & financial untouchability. From the learning of past schemes, the Humble Prime Minister of India: Mr. Namenda Mode has taken a forward steps on Financial Inclusion as one of the top most priority project of the Indian government. In this regard, the following several public welfare schemes for inclusive finance through insurance & pension schemes have been introduced since 2014 onwards. This research paper aims at briefly addressing the status of financial inclusion in India through insurance & pension schemes (PMJDY, PMJJBY, PMSBY, PMFBY&APY) since 2014. The data gathered from the primary & secondary sources and descriptive & analytical methodology have been adopted for the data presentation. In order to draw the inferences, all the condensed data being presented in two-way tabular form with cross-sectional comparative analysis have been applied by using SPSS6.0.
Keywords
Financial Inclusion, PMJDY, PMJJBY, PMSBY, PMFBY & APY
To cite this article
Miryala Shekar, Sabada Veeramani, Financial Inclusion Through Insurance & Pension Schemes, European Business & Management. Vol. 3, No. 6, 2017, pp. 105-112. doi: 10.11648/j.ebm.20170306.12
Copyright
Copyright © 2017 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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