Global Initiatives Toward Financial Inclusion

The practice of promoting inclusion, financially and socially, expedites economic activities which in turn facilitate the growth and development of a nation. Access to low-cost authorized financial products and services especially by disadvantaged and unrepresented masses can facilitate financial inclusion. Around the globe, a large percentage of population are excluded from holding valid accounts in financial institutions. And as such result regulators from all developed, developing, and under-developed countries have taken notable initiatives to group people under authorized financial networks, minimize income inequalities, and so on which ultimately accelerate the economic growth of the country. This chapter discusses multiple financial inclusion initiatives considered by regulators at the global level. The initiatives considered globally elucidated in this chapter will influence other countries to be part of their new agenda to achieve the target of financial inclusion. This chapter also enshrines review of related empirical as well as theoretical literature in the segments of studies based on global region. The research work includes studies from 1979. The study finds that regulators from different countries practice varied policies, though the objective is unique. Due to its global significance, many studies have been conducted by researchers and government agencies by considering micro-level data to macro-level data.