• Ms Prasanna Prakash

The Indian Banking Sector is broadly classified into Commercial Banks, Small Finance Banks, Payment Banks and Cooperative Banks. Small Finance Banks (SFB) is a type of niche banks in India. The aim of these banks is to provide financial inclusion to sections of the economy not being served by other banks such as small business units, small and marginal farmers, micro and small industries and unorganized sector entities. SFB, the segment of banking created by Reserve Bank of India under the guidance of Government of India with an objective of furthering financial inclusion. Financial inclusion plays a major role in inclusive growth of the country. The growth of our economy is dependent on the growth of the rural India. The availability of quality financial services in rural areas will enable the large number of rural households to fund their livelihoods. The objective of this research paper is to study the progress of SFB in India and its role in promoting financial inclusion. The present study is analytical and descriptive in nature and is based on the secondary data. The study concludes that there is tremendous growth in the small finance banks and it contributes towards the economic development. It promotes financial inclusion by providing easy access to masses to banking services and helps in extending banking service to the unbanked rural villages.

Small Finance Banks, Financial Inclusion, Inclusive Growth, Economic Development

"Growth and Development of Small Finance Banks and its Role in Promoting Financial Inclusion in India", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.8, Issue 4, page no.343-347, April-2021, Available :http://www.jetir.org/papers/JETIR2104247.pdf

"Growth and Development of Small Finance Banks and its Role in Promoting Financial Inclusion in India", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.8, Issue 4, page no. pp343-347, April-2021, Available at : http://www.jetir.org/papers/JETIR2104247.pdf