The article focuses on the Indian social banking programs, which are designed to meet the challenge of uplifting the poor people from the depths of abject poverty. Social banking plays a pivotal role in poverty alleviation through a network of commercial banks, cooperative banks, Regional Rural Banks(RRBs), microfinance institutions, primary agriculture credit societies and Self-Help Groups (SHGs). The article discusses the role of policy interventions through five-year annual plans, phases of development of social banking, the function of Indian banking system in the eradication of poverty and the future of social banking.

Social banking provides the basic financial support required by the economically weak sections of the society and thereby enables them to participate and benefit from the developmental programs. Once this is achieved, social banking leads to the desired goal of sustainable development.

Social banking plays a pivotal role for poverty alleviation through the network of commercial banks, cooperative banks, Regional Rural Banks (RRBs), microfinance institutions, primary agriculture credit societies and Self Help Groups (SHGs).

However, availability of credit alone may not alleviate poverty. It is also important to carry out land reform which enables better absorption of microfinance. Thus, the banks and financing institutions enable and ensure flow of credit to the poor to strengthen their economy.

Professional Banker Magazine, Social Banking, Regional Rural Banks, RRBs, Self-Help Groups, SHGs, Indian Banking System, Reserve Bank of India, RBI, Public Sector Banks, State Bank of India, SBI, Primary Agriculture Credit Societies , PACS, Foreign Direct Investment, FDI, District Level Consultative Committee, DLCC, Commercial Banks, Social Banking Program.