Abstract
India is one of the fastest growing economies of the world where more than 70 % of 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 is a topmost priority of the Government in recent days to enable country‗s inclusive growth. Financial Inclusion is the delivery of financial services at an affordable cost to vast section of disadvantaged and low income group of people. The extent of financial exclusion is still quiet huge in rural areas. Financial Inclusion like opening of bank accounts, access to digital money, availing of micro credit, insurance and pension were lacking. 110 million of 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 in rural areas than urban areas, but they are largely unreached segment of Insurance. To cover these vulnerable sections of society, Insurance Regulatory and Development Authority (IRDA) has created a special category of insurance policies called micro-insurance. Jansuraksha, as an Insurance initiative with Government‗s Financial Inclusion step is one of the preceding sector to made inclusion in formal financial services. This paper entitles to give a glimpse onGovernment 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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