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Financial Inclusion Of Marginalized Communities In India: Challenges And Strategies

Aiswaria P. J., The National University of Advanced Legal Studies


Financial inclusion plays a crucial role in promoting inclusive economic growth and reducing poverty by providing marginalized communities with access to formal financial services. This research paper investigates the concept of financial inclusion and its importance in empowering marginalised groups. It explores the underlying factors causing financial exclusion and emphasizes the urgent need to extend financial services to marginalized communities in India. The paper delves into various financial inclusion schemes and policies implemented by the Indian government, such as the Pradhan Mantri Jan-Dhan Yojana (PMJDY) and the National Rural Livelihood Mission (NRLM). While these initiatives have shown progress in increasing account penetration, challenges persist in achieving meaningful and sustained financial inclusion. The paper evaluates the effectiveness of existing policies, highlighting the underutilization of accounts and limited access to credit and insurance products among marginalized communities. To enhance financial inclusion, the paper recommends a multi-pronged approach. This includes raising awareness about financial services, expanding the presence of formal financial institutions in remote areas, and designing inclusive products tailored to the needs of marginalized communities.


Indian Journal of Law and Legal Research

Abbreviation: IJLLR

ISSN: 2582-8878


Accessibility: Open Access

License: Creative Commons 4.0

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​All research articles published in The Indian Journal of Law and Legal Research are fully open access. i.e. immediately freely available to read, download and share. Articles are published under the terms of a Creative Commons license which permits use, distribution and reproduction in any medium, provided the original work is properly cited.


The opinions expressed in this publication are those of the authors. They do not purport to reflect the opinions or views of the IJLLR or its members. The designations employed in this publication and the presentation of material therein do not imply the expression of any opinion whatsoever on the part of the IJLLR.

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