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Abstract            Volume:12  Issue-8  Year-2024         Original Research Articles


Online ISSN : 2347 - 3215
Issues : 12 per year
Publisher : Excellent Publishers
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Role of Small Finance Banks in Financial Inclusion and Rural Development
K. Kalidas1*, S. Aswin2, V. Athithya2, P. Dhanush2 and E. Eniyal2
Vanavarayar Institute of Agriculture, Manakkadavu, Pollachi – 642103, Tamil Nadu, India
*Corresponding author
Abstract:

Small Finance Banks (SFBs) are a new type of financial services that facilitate access to credit, savings, and other essential financial tools. In India, with a vast rural population and a significant unbanked segment, financial inclusion has been a persistent challenge. This paper delves into the genesis, objectives, and impact of SFBs on financial inclusion and rural development in India. This study employs a descriptive research design to analyze the role of small finance banks (SFBs) in rural and semi-urban India. Secondary data, primarily from the Reserve Bank of India (RBI) and other government sources, have been used to gather information on the number, distribution, and performance of SBBs. The findings show that SFB growth has been instrumental in improving rural credit, particularly in the agricultural sector, where they provide affordable loans in areas often neglected by commercial banks. With continued efforts in financial literacy and community engagement, SFB are poised to play a crucial role in enhancing the livelihoods of rural communities and contributing to India's overall economic development.

Keywords: Banking Institutions, Financial Inclusion, Financial System, Small Finance Banks.
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How to cite this article:

Kalidas, K., S. Aswin, V. Athithya, P. Dhanush and Eniyal, E. 2024. Role of Small Finance Banks in Financial Inclusion and Rural Development.Int.J.Curr.Res.Aca.Rev. 12(8): 40-44
doi: https://doi.org/10.20546/ijcrar.2024.1208.004
Copyright: This is an Open Access article distributed under the terms of the Creative Commons Attribution-NonCommercial-ShareAlike license.