Expanding outline of banking sector to rural India

Majority of the population of the country resides in rural India. Indian Banks are very much reluctant to reach and serve the rural people. Reasons for this are lack of awareness, low incomes/assets and illiteracy among the rural population. Being a commercial entity, all banks in India prefer to deal in any financial activities which are profitable to them. Banks feel costlier to reach the remote places through brick and mortar branches to serve the rural people. A transformation through technology in the banking sector is required for the financial inclusion of all the individual of India. This review paper is an effort to identify the best possible way to increase the reach of banking sector in rural India.