Organized by School of  Studies in Economics,
Vikram University, Ujjain (M.P.)
Indian Economic Association

Co-hosted by
M.P. Institute of Social Science Research, Ujjain
(Institute of ICSSR, Ministry of HRD, Govt. of India and Ministry of Higher Education, Govt. of M.P.)
Sponsored by
Indian Council for Social Science Research, New Delhi

5-6 October, 2015

VIKram LogoThe major development challenge is to make the growth inclusive and policies for inclusive growth are vital components of majority of government strategies for sustainable growth. Three pillars of inclusive growth are: (1) Maximizing economic opportunities; (2) Ensuring economic wellbeing; and (3) Ensuring equal economic opportunities. The earlier theories of development concentrated on labour, capital, institutions etc. as the factors for growth and development. The current leading works mainly include finance as a factor for growth. Financial inclusion or inclusive financing is the delivery of financial services, at affordable costs, to sections of disadvantaged and low income segments of society.

An inclusive financial system mobilizes more resources for productive purposes leading to higher economic growth, better opportunities and reduction of poverty. Thus, it has been widely established that financial inclusion is one of the methods through which Inclusive Growth can be achieved.

Financial Inclusion assumes greater importance in countries like India where large sections are unable or incompetent to participate in the Financial System. India ranks second in the world in terms of financially excluded households after china. There is an acute need among the poor for credit that often forms the deciding line between their survival and their succumbing to poverty. Credit is sought for basic requirements such as food, health housing and education, as well as for income generation activities. The lack of access to credit for the poor is attributable to practical difficulties arising from the discrepancy between the mode of operation followed by financial institutions and the economic characteristics and financing needs of low-income households. Therefore, for the inclusive growth process of economy the central bank has also provided high importance to the financial inclusion. Normally the weaker sections of the society are completely ignored by the formal financial institutions in the race of making chunks of profits or the complexities involved in providing finance to the weaker section.

In India about 34 percent of population is engaged in informal banking. According to IISS (Invest India Incomes and Saving Survey, 2007), 55 percent of all the households do not have bank accounts, 97 percent do not have any health insurance and 61 percent do not have life insurance. Also the real rate of financial inclusion in India is very low and about 40 percent of the bank account holders use their account not even once a month. A significant proportion of the households, especially in rural areas, are still outside the formal fold of the banking system. The status of financial inclusion among the states of the country varies differently.

Against the backdrop of the dismal picture of the financial outreach and the resulting exclusion mainly of the poor, the government of India has been making efforts for inclusion like creation of State Bank of India in 1955; nationalization of commercial banks in 1969 and 1980; initiating the Lead Bank Scheme in 1970; establishing Regional Rural Banks (RRBs) in 1975; introducing a Self-Help Group (SHG)-Bank Linkage Programme in 1992 and launching of Kisaan Credit Card (KCC) Scheme in 1998-99 to provide insurance cover to the farmers and reformulating the scheme in 2001. Introduction of ‘No frill accounts’, Relaxing Know your customer (KYC) norms, General Purpose Credit Card Schemes, Business Facilitator and Business correspondent model, financial literacy about various bank portfolios’, Unique Identification Authority of India (UIDAI) for easy identification, National Payment Corporation of India (NPCI) and Micro ATMs and recently announced Jan Dhan Yojana are some of the important tools of financial inclusion in India.

The objective of the financial deepening process under the current paradigm is to ensure the creation of adequate social security nets that shall provide citizens with a choice of financial products, including pension, insurance and saving instruments. Financial Inclusion is also important as it provides an avenue to the poor for bringing their savings into the formal financial system. It will also enable the household sector to become free from informal credit channels and create and convert physical assets into financial assets, which can be leveraged for productive activities spurring economic activity. It is thus essential to extend banking services to the rural hinterland at the earliest in order to include these regions in India’s growth story. Moreover, all the measures of financial inclusion are related with the quantitative expanse however, it should be noted that the process of expansion of bank branches or opening of bank accounts is just an initial trigger for financial inclusion which should ultimately translate into freedom from informal credit channels, assurance of social and economic security, employment generation and asset formation. Only then can the provision of banking and financial services to the rural hinterland or to the financially excluded sections of the society be an enabler for inclusive growth. In the background of a series of efforts made for enabling financial inclusion and the visible lag in the existing scenario of outreach, a threadbare analysis of the issue becomes imperative. Thus, School of Studies in Economics, Vikram University Ujjain under the auspices of the Indian Economic Association is organizing a National Seminar on Inclusive Growth through Financial Inclusion: A Paradigms Shift between 5th and 6th October, 2015. We invite a research paper in not more than 5000 words in English or Hindi (in MS-Word Format – Times New Roman and Kruti Dev 010 fonts size 12) on the following Sub Themes, with an abstract in not more than 300 words before 20th September 2015.

Sub Themes

  1. Financial Inclusion and Inclusive Growth – Linkages
  2. Financial Inclusion Disparities across States
  3. Rural Credit Scenario and Financial System
  4. Banking and Financial Inclusion
  5. Self Help Groups and Financial Inclusion
  6. Financial Inclusion and Livelihood
  7. Financial Inclusion and Marginalized Sections
  8. Financial Inclusion – Efforts and Impacts on all Sectors

Submission of Papers
The paper stating the theme of research paper, contact address with telephone number and email address with institutional affiliation of the author(s) must reach the Seminar Committee on this address: Prof. Tapan Choure, Head, School of Studies in Economics, Vikram University, Ujjain-456010 (M.P.) email: Hard with soft copies have to be submitted, before or at the time of registration. We encourage young researchers to submit and present their works. All accepted papers will be published after a peer review.

Registration Fee
Registration fee of Rs. 800/- has to be deposited at the time of registration. No TA & DA will be given. Only local hospitality (seminar kit, two lunches and high tea) will be provided to the participants. Lodging facility would be provided only to outstation participants on prior request & on payment.

Last date for receiving full paper with abstracts : 20th September, 2015.

Email for Correspondence : /
Seminar Venue : M.P. Institute of Social Science Research, 6, Professor Ramsakha Gautam Marg,
Bharatpuri Administrative Zone, UJJAIN (M.P.)

Organizing Committee
– Prof. Tapan Choure
Head , School of Studies in Economics, Vikram University, Ujjain.
– Dr. S.K. Mishra
Reader, School of Studies in Economics, Vikram University, Ujjain.
– Dr. Sangram Bhushan
Lecturer, School of Studies in Economics, Vikram University, Ujjain.
– Dr Ashish Bhatt
Associate Professor, MPISSR, Ujjain.
– Dr. Manu Gautam
Associate Professor, MPISSR, Ujjain.
– Dr. Anil Kumar Thakur
General Secretary, Indian Economic Association (IEA).
– Dr. Neeta Tapan
IEA Member, Govt. Girls’ P.G. College, Ujjain.
– Sunil Kumar Kushwaha
ICSSR, Doctoral Fellow, School of Studies in Economics, Vikram University Ujjain.

For Assistance, Contact
Prof. Tapan Choure
Seminar Coordinator,
S.S. in Economics, Vikram University Ujjain
Phone: 0734-2520354, Cell: 098260-91896
Web:, E-mail:

Organizing Secretary Seminar Convener
Dr. Neeta Tapan, IEA Member Prof. Tapan Choure

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