While there was a decline in the share of banks in debt of rural households between 1991–92 and 2002–03, we can hope for a revival in this share over the last decade going by the extensive policy efforts for financial inclusion by the Reserve Bank and the Government of India in collaboration with institutions oriented towards rural areas, such as, the NABARD. 14.
Financial inclusion is a buzzword nowadays, not just in India, but globally as well. At RBI, we view financial inclusion as a process that seeks to ensure access to appropriate financial products and services at an affordable cost in a fair, transparent & secure manner by mainstream institutional players.