‘Swabhimaan’

‘Swabhimaan’ a nationwide programme was launched by the Govt. of India in February 2011. This was an initiative to ensure that the banking services are properly utilized and is available for people irrespective of economical restrains. The campaign hopes to create awareness regarding financial services in rural India with a target of opening 50 new bank accounts by March 2012.

Financial Inclusion is the delivery of banking services at an affordable cost to the poor, disadvantaged and low income group of people. It will help this section of people to easily access public goods and services specially banking services. There is a correlation between financial inclusion and social development.

The Reserve Bank of India recently presented State-wise index of financial inclusion. Three basic dimensions were considered by RBI:
banking penetration, availability of banking services and usage of banking services. These dimensions were selected based upon up-to-date availability of data.

Rank 1 : Kerala
IFI Score : 0.54

Kerala has the highest human development index in India. The state’s gross domestic product per capita stands Rs. 39, 815 and its population is 34,403,000.

Kerala’s economy is mainly dependent on Remittances. The other major sources of revenue of the State are Agriculture, Marine products & services and Tourism.

Rank 2 : Maharastra
IFI Score : 0.53

Maharastra is India leading Industrial state. It contributes nearly 40% of India’s National Revenue and 15% of India’s Industrial output.

Rank 3 : Karnataka
IFI Score : 0.53

Karnataka has 158 Biotechnology firms out of India’s total 320, thereby making it the leader in the field of Biotechnology.

Some of the largest public sector industries in India, including Hindustan Aeronautics Limited, National Aerospace Laboratories, Bharat Heavy Electricals Limited, Indian Telephone Industries, Bharat Earth Movers Limited and Hindustan Machine Tools are based in Bangalore.