Financial inclusion is no longer a policy choice but a policy compulsion today. The key for this is establishing an appropriate business delivery model through the involvement of all stakeholders to make financial inclusion a reality.

Inclusive growth as the literal meaning of the two words, refers to both the pace and the pattern of the economic growth. The literature on the subject draws fine distinction between direct income redistribution or shared growth and inclusive growth (Elena Ianchovichina and Susanna Lundstrom, 2009). The inclusive growth approach takes a longer-term perspective as the focus is on productive employment rather than on direct income redistribution, as a means of increasing incomes for excluded groups. Inclusive growth is, therefore, supposed to be inherently sustainable as distinct from income distribution schemes which can in the short run reduce the disparities, between the poorest and the rest, which may have arisen on account of policies intended to jumpstart growth. While income distribution schemes can allow people to benefit from economic growth in the short run, inclusive growth allows people to `contribute to and benefit from economic growth'.

'Inclusive growth' as a strategy of economic development received attention owing to a rising concern that the benefits of economic growth have not been equitably shared. Growth is inclusive when it creates economic opportunities along with ensuring equal access to them. Apart from addressing the issue of inequality, inclusive growth may also make the poverty reduction efforts more effective by explicitly creating productive economic opportunities for the poor and vulnerable sections of the society. Inclusive growth by encompassing the hitherto excluded population can bring in several other benefits as well to the economy. The concept `inclusion' should be seen as a process of including the excluded as agents whose participation is essential in the very design of the development process, and not simply as welfare targets of development programs (Planning Commission, 2007).

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