Financial Inclusion is the delivery of banking
services at an affordable cost to the vast sections of disadvantaged and low
income group. As banking services are in the nature of public good, it is
essential that availability of banking and payment services to the entire
population without discrimination is the prime objective of the public policy. It means not only to extending banking facilities to rural
people but also to provide at their convenient time and location. Availability
of banking services means to provide Basic Savings Bank Deposit Account
(formerly known as No-Frills account) with Overdraft facility; Remittance
product for Electronic Benefit Transfer (EBT) and other remittances; Variable
Recurring Deposit and General Credit Card or Kisan Credit Card etc.