ROLE OF ASSAM GRAMIN VIKASH BANK IN PROMOTING FINANCIAL INCLUSION IN ASSAM
Assam is a state with majority of rural population. Rural people due to ignorance, illiteracy etc are the underprivileged lot. They often fail to access the services enjoyed by their counterparts in urban areas. This includes the financial services that are required to maintain a decent standard of life and livelihood. Such financial exclusion is a reality in India. Efforts are on to bank these underprivileged category of rural population, the initiatives being launched by financial inclusion. Therefore, financial inclusion is the only possible alternative and mechanism which can channelize and promote banking habits among the rural population. Regional Rural Banks are conceptualised for promoting financial inclusion. Assam Gramin Vikash Bank is one of the leading rural banks in Assam which is working to financially include the excluded category of people in the state. The rural people have limited financial literacy and access to financial services. However socially and financially excluded people must attracted towards the formal financial system for the development of the society. This paper therefore attempts to identify the role of Assam Gramin Vikash Bank in promoting financial inclusion in Assam and the role of various initiatives taken by the bank for promoting financial inclusion. For the present study secondary sources of information has been collected. The annual reports of the bank and some other journals are considered for the study.
KEY WORDS: Financial Inclusion, Financial Exclusion, RRBs, Assam Gramin Vikash Bank (AGVB), BC Model, Deposits/Advances.