A Case Study of Canara Bank
© 2018 JETIR June 2018, Volume 5, Issue 6 www.jetir.org (ISSN-2349-5162) Financial Inclusion in India: A case study of Canara Bank 1 Nikita Agarwal, 2 Dr. Anoop Vyas 1Research Scholar, 2Supervisor 1Department of Commerce 1 SABV Govt. Arts & Commerce College, Devi Ahilya Vishwavidyalaya, Indore, India Abstract: In a country like India where approximately 70% of the total population resides in rural areas, the concept of financial inclusion plays a crucial role in the overall economic development of a country. The government of India along with RBI and other financial institutions is constantly making efforts to ensure the access of basic financial services to every individual of the country which is the ultimate motive of financial inclusion. The purpose of this paper is to highlight the basic features of financial inclusion and also to analyse the developments in the area of financial inclusion in India with special reference to the initiatives taken by Canara Bank, one of the leading public sector banks of the nation. Keywords: Banks, Financial Inclusion, Initiatives, Progress I. Introduction Background of Canara bank: Canara Bank was founded by Shri AmmembalSubba Rao Pai, a great visionary and philanthropist, in July 1906, at Mangalore, then a small port town in Karnataka. The bank was nationalised by the government in 1969 and since then its growth has been phenomenal. Over the years the bank has attained the status of a national player in terms of geographical reach and clientele segments. With an unbroken record of profits since its
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