Financial Inclusion : A Key to Economic Empowerment of Weaker Sections with Reference to ‘Katkari’ Tribe in Maharashtra, India

The study examines the significance of financial inclusion in terms of awareness of and accessibility to basic financial ser vices and products for economic empowerment and social development of 'Katkari' tribe in Raigad District, Maharashtra.The findings reveal that the Katkari tribal people have a very low level of financial awareness of and accessibility to quality, affordable, and basic financial services and products such as savings, credit, insurance, transfer and remittance of funds.The Katkari depend largely on an informal, exploitative credit system (moneylenders) as immediate source of funds rather than approaching banks and financial advice centers for guidance and credit accessibility.Financial inclusion schemes of Indian Government and the Reserve Bank of India have not been realized in the tribal villages in terms of ensuring financial literacy, quality changes in their standard of living, building up sustainable and diversified livelihood projects, and improving their educational and health facilities.Hence, financial inclusion as an inclusive growth strategy has not made any significant impact towards the economic empowerment and social development of the Katkari.