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CONSUMER INCLUSION IN FINANCIAL SERVICES IN INDIA
Dr. Pullaiah. D1 Sri K. Maheswara Gupta2
Abstract:
The present Consumer Protection law is being amended to make it more comprehensive to protect the consumer better. The financial services are a more complex area with numerous players, with banks alone controlling 64 per cent of the total assets. There are many other formal and informal players in this sector like CAs, agents, brokers, advisers, intermediaries, etc., There should be appropriate controls and insurance mechanisms to protect consumer assets, including deposits. Financial literacy becomes important.A Consumer is the most important visitors on our premises. He is not dependent on us. We are dependent on him. The present Consumer protection law is being amended to make it more comprehensive to protect the Consumer better. The Financial Services are a more complex area with numerous players, with banks alone controlling 64 per cent of the total assets. There are many other Formal and Informal players in this sector like CAs, agents, brokers, advisers, intermediaries, etc.,