Financial Inclusion is thus the process of bringing people from the margin to the mainstream, linking them to mainstream financial institutions so that they become customers of Banks and are able to access the full range of services – Savings, Deposits, Loans which the Banks offer.
Financial Education is key to promoting Financial Inclusion which is a step towards customer protection as it ensures linkage with mainstream financial institutions so that the hapless borrower is not at the mercy of the informal service providers who charge notoriously high rates of interest... Building financial capability is a very great challenge – the combination of knowledge, skills and attitudes with the opportunities to apply them – requires input from multiple sources including those that educate the consumer and those that sell the products.