Role of information technology in financial inclusion

Abstract

The Indian banking sector today is stressing toward Financial Inclusion. The main reason motive is to include large population of India in the financial system of nation. This is a new avenue and a large market for banks. Where Information Technology will play an important role in reducing cost of providing banking services, particularly in the rural and the financially excluded population. The role of Information Technology can be realized from the fact that it has greater population penetration and its ability to serve at remote location at low cost which is essential requirement for Financial Inclusion.