Financial inclusion in the Banking Sector: A Growth Opportunity for Banks
The Financial Inclusion in Banking Sector offers the banks a global opportunity to expand at a rapid pace. Financial inclusion plays an important role in reducing the distance between the banks and the customers and helps in building a strong relationship. With inclusion, banks can also reduce their risks and become more stable. The banks will be able to expand their customer base as well as their revenues. The opportunities that can be availed by the banks through financial inclusion include: Wider Customer Base With the financial inclusion process, the banks get a wider scope to broaden their customer base. With more customers come better revenues for the financial institutions. The financial inclusion is also an opportunity for the banks to enhance their overall performance. Access to the wide customer base helps in minimizing the transaction costs and brings about enhancement in the overall efficiency. A better understanding of the inclusion system can even as...