Role of Bank of Maharashtra in Financial Inclusion with Special Reference to Post Covid-19 Period
DOI:
https://doi.org/10.53032/tvcr/2025.v7n2.18Keywords:
Financial Inclusion, RBI, PMJDY accounts, ATMsAbstract
India, being a developing country, has large segments of rural and semi-rural population which need to develop a culture of savings. India has been independent for more than 75 years but big chunks of its people still don’t have bank accounts. This is why the Indian government and the RBI are working hard to spread the idea of financial inclusion. In fact, it's now one of the country's main goals. Financial inclusion, or inclusive financing, means providing financial services at prices that people can afford. This is for those who are far away from benefit or don't earn much money and who can't get financial products & services otherwise. In India, RBI’s several measures are to achieve the goal of financial inclusion through scheduled banks which includes opening branches and no-frills accounts in unbanked rural areas, engaging business correspondents, relaxation on KYC norms, use of ICT, introduction of GCC facility etc. Scheduled banks include Commercial and Co-operative banks. Scheduled Commercial banks are Public & Private sector banks, Foreign & Regional rural banks. Bank of Maharashtra is one of the largest nationalized banks which plays an important role in financial inclusion. Therefore, in the present study, the researcher has attempted to focus on the Role of Bank of Maharashtra in Financial Inclusion. This research article provides insight into branch expansion, ATM Centers, PM- Jan Dhan Yojana Accounts, and deployment of Credit to MSMEs.
References
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Dr. M S V Prasad & Dr. G V Satya Sekhar (2013) “Financial Inclusion in India”, Excel Books, New Delhi.
Charan Singh (2014) “Financial Inclusion in India: Select Issues” Working Paper No. 474
Annual Reports of Bank of Maharashtra for the years 2018, 2019, 2020, 2021, 2022 and 2023.
www.moneycontrol.com
www.bseindia.com
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