A Study of Financial Inclusion of Maharashtra State with special reference to Marathwada region.

Introduction Since the past ten years, financial inclusion has been seen as the primary goal of many developing countries due to several studies that show a direct correlation between financial exclusion & the poverty that exists in these countries. A World Bank report states that “The absence of price or non-price barriers in the use of financial services is defined as financial inclusion, or broad access to financial services”. A relative perspective is required when interpreting the term Financial Inclusion. The level of financial inclusion in each nation varies according to its developmental stage. It is shocking to learn that, behind China, India has second highest number of households who are financially excluded worldwide. High significance has also been given by the central bank to the economy’s inclusive growth process.1* Maharashtra is the second largest state in India both in terms of Population & Geographical area. There are 36 districts in state, These districts are grouped in to six administrative revenue divisions namely Kokan, Pune, Nashik, Chatrapati Sambhajinagar, Amravati & Nagpur. Maharashtra has a long tradition of having statutory bodies for planning for the district level. Maharashtra has contributed largest share of Gross state Domestic Product (GSDP) Rs. 42.67 trillion in the year 2023-24. Maharashtra’s GSDP increased at a CAGR of 10.17% from the year 2015-16 to 2024-25. The per capita income in Maharashtra in 2024 was 277603. This was an increase from previas years per capita income.