• Dr. Simpi Kumari

Rural areas constitute the largest untapped market in India due to their unmet financial needs and limited access to formal financial services. Unlocking the economic potential of these regions could significantly improve household incomes and create new livelihood opportunities. Given that India has one of the world’s largest rural populations, promoting financial inclusion (FI) in these areas is critical to achieving inclusive economic growth. Financial inclusion refers to the provision of accessible, affordable, and equitable banking and financial services to all segments of society, particularly the underserved. This study, based on both primary and secondary data sources, involved a sample of 70 individuals from the East Singhbhum district of Jharkhand. It assessed the role of banks in promoting FI and explored whether local financial institutions (FIS) are adequately equipped to serve the rural population. The findings suggest that initiatives such as offering zero-balance savings accounts, organizing targeted financial literacy programs, and strengthening the business correspondent model can significantly increase financial access in rural areas. The financial sector, as a key engine of economic development, must adapt to meet the evolving needs of rural communities. For holistic national progress and the realization of Sarvodaya (upliftment of all), it is essential that every citizen is economically engaged and empowered. This study highlights the pivotal role of FI as a catalyst for rural development in East Singhbhum and underscores the need for continued institutional support to bridge the financial divide.

Financial Inclusion, Public, Rural Areas, Banks, Development

"FINANCIAL INCLUSION BY FINANCIAL INSTITUTION: A TOOL FOR RURAL DEVELOPMENT IN EAST SINGHBHUM DISTRICT", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.11, Issue 10, page no.g500-g509, October-2024, Available :http://www.jetir.org/papers/JETIR2410659.pdf

"FINANCIAL INCLUSION BY FINANCIAL INSTITUTION: A TOOL FOR RURAL DEVELOPMENT IN EAST SINGHBHUM DISTRICT", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.11, Issue 10, page no. ppg500-g509, October-2024, Available at : http://www.jetir.org/papers/JETIR2410659.pdf