Definition :-

The literary meaning of Financial Inclusion (FI) can be simply stated as, 'Everybody having access to financial services'. It can be explained as every eligible citizen of the country who have been till date were left aloof of formal financial institutions being tagged as un-bankable, having a bank account in his/her name wherein he/she can avail of all the possible financial services as per the need and availability of such services in order to help every citizen being better off from the financial side.

Bank's FI Vision :-

With a commitment to reach the un-reached and with a firm corporate belief that even the poor is bankable, financial services to be extended at affordable cost in an on-going basis to improve quality of life of all those who have been hitherto deprived of financial services from formal financial institutions.

Bank's FI Mission :-

To cover 120000 villages across India by enrolling 30 million customers through Bio-Metric Smart Card technology under one of the coveted projects 'Financial Inclusion' by the year 2015.

Scope :-

The scope of FI is as deep as the Indian Ocean, and has two forms of measurement. First is 'the business' and the second is 'the necessity for making the growth of the country real and inclusive' both of which can be justified by this staggering fact : about 41% of the 1.2 billion Indian population which is spread in every nooke and corner of the country, not only in the six lacs plus villages but also in the slums of metro-cities and towns, are still unreached/unbanked i.e. they do not have access to financial services from formal financial institutions. The task seems to be a daunting one but the remarkable success Union Bank of India have made in terms of covering 2.1 million customers under the Bio-Metric Smart Card technology just within 2 years of the start of its FI drive signifies that the FI vision of the bank can be turned into a reality and it will surely achieve its mission overcoming all obstacles in its path of just not growing the bank but making 'growth inclusive' and development of the 'Common Man of India'.