Financial inclusion is a process that enables improved and better sustainable economic and social development of the country. It focuses on raising the standard of living of the underprivileged people in the society with the objective of making them self-sufficient and well informed to take better financial decisions. Also, it acknowledges the participation of the low income groups based on the extent of their access to financial services in economic growth. India has been working on enhancing financial inclusion since 1955 when State Bank of India was nationalized, followed by more nationalization of banks in 1969 and 1980. A number of focused initiatives have been undertaken since 2005.The paper is forward looking and explores the scenarios in the next 20 years, identifies challenges and makes a few recommendations.