ABSTRACT
India is one of the fastest-growing economies in the world where more than 70 % of the population lives in rural areas. Rural areas are the lifeline of our country, accomplishment of financial services in these areas is an inevitable one. Financial Inclusion has been a topmost priority of the Government in recent days to enable the country's inclusive growth. Financial Inclusion is the delivery of financial services at an affordable cost to a vast section of disadvantaged and low-income groups of people. The extent of financial exclusion is still quite huge in rural areas. Financial Inclusion like the opening of bank accounts, access to digital money, and availing of microcredit, insurance, and pension were lacking. 110 million of the country's population, only 20% of has any kind of insurance. Rural people are also highly excluded section in the Insurance market. Vulnerability is more common in rural areas than urban areas, but they are largely unreached segments of Insurance. To cover these vulnerable sections of society, the Insurance Regulatory and Development Authority (IRDA) has created a special category of insurance policies called micro-insurance. Jan Suraksha, as an Insurance initiative with a government financial Inclusion step, is one of the preceding sectors to be inclusion in formal financial services. This paper aims to give a glimpse of Government promotional measures of Micro Insurance and Jan Suraksha with rural people.
Keywords: Financial Inclusion, Insurance, Jan Suraksha, Micro Insurance, Rural people.
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