Financial Inclusion in India-An Overview
28 Jun 2015-Research Journal of Humanities and Social Sciences (A & V Publications)-Vol. 6, Iss: 2, pp 127-137
TL;DR: In this article, the authors have made an attempt to focus on the RBI and GoI initiatives and policy measures, current status and future prospects of financial inclusion in India on the basis of facts and data provided by various secondary sources.
Abstract: Financial inclusion is a buzzword now and has attracted the global attention in the recent past. In India it is a new concept. Financial inclusion is a process that ensures the ease of access, availability and uses of the formal financial system for all members of an economy. As the banking services are in nature of public good, it is necessary that the entire population without discrimination of any kind should be facilitated with banking and payment services. This could be achieved either by state intervention through law enactment or through initiative of the banking community for admitting people from all layers of society within ambits of banking sector. Financial access can boost the financial condition and standards of life of the poor and disadvantaged. So RBI has been constantly encouraging the banking sector to develop the banking network both through setting up of new branch installation of new ATMs, implementation of EBT and also through BC model by leveraging upon the Information and Communication Technology (ICT). In this article an attempt has been made to focus on the RBI and GoI initiatives and policy measures, current status and future prospects of financial inclusion in India on the basis of facts and data provided by various secondary sources.
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Journal Article•
TL;DR: In this article, the authors proposed a framework for the moderating effect of access to finance on the relationship between total quality management (TQM), market orientation (MO), and SMEs performance in Nigeria.
Abstract: This study proposed a framework for the moderating effect of Access to Finance (AF) on the relationship between Total Quality Management (TQM), Market Orientation (MO) and SMEs performance in Nigeria. However, relatively few studies have attempted to consider the relationship between Total Quality Management (TQM), Market Orientation (MO) and SMEs performance. The majority of the studies conducted on the relationship between the construct have presented different findings. In order to bridge the gap, a moderating effect of access to finance is introduce or proposed based on the suggestions of the literature. The study is significant to policy makers, government, regulators, and financial institutions on the need to provide access to finance to the real and potential entrepreneurs for SMEs development in Nigeria. In addition, the study will serve as additional literature to few studies on SMEs performance particularly in emerging economies like Nigeria that has not been explored. Keywords: Access to Finance, SMEs, TQM JEL Classifications: L26, L84
22 citations
Cites background from "Financial Inclusion in India-An Ove..."
...Furthermore, financing could be better once, it can improve SMEs’ performance, and ultimately lead to a private and social as well as economic benefits for the nation’s economy (Roy, 2012)....
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DOI•
18 Jun 2015TL;DR: In this paper, a study has been undertaken to analyse the prospects of financial inclusion in rural areas, which can be defined as the process of ensuring access to financial services and timely and adequate credit where needed by vulnerable groups such as weaker sections and low income groups at an affordable cost.
Abstract: Financial Inclusion or inclusive financing is the delivery of financial services at affordable costs to sections of disadvantaged and low-income segments of society, in contrast to financial exclusion where those services are not available or affordable. For the purpose of giving such financial services in easy and convenient way government has developed many financial plans in the rural areas. These plans are helpful for people who want to access financial services. The availability of banking and payment services to the entire population without discrimination is the prime objective of this public policy. Thus the term Financial Inclusion can be defined as the process of ensuring access to financial services and timely and adequate credit where needed by vulnerable groups such as weaker sections and low income groups at an affordable cost. The nations should takeover and remedy to reach the financial services to the weaker sections. So, this study has been undertaken to analyse the prospects of financial inclusion in rural areas. Keywords. Bank , Financial Services, Financial Inclusion, Rural Perspective. JEL. G20, G29, G30.
9 citations
01 Jan 2014
TL;DR: In this paper, the authors investigated the level of awareness about financial inclusion forces and examined the extent of financial inclusion among below poverty line households in terms of access and continuous usage of bank account.
Abstract: Financial inclusion plays a major role in driving a way the poverty from the country. The main focus of financial inclusion in India is to promote sustainable development in rural areas .The study investigated that the level of awareness about financial inclusion forces and examined the extent of financial inclusion among below poverty line households in terms of access and continuous usage of bank account. Data are collected from below poverty line households by using interview schedule and multi stage random sampling was used for the selection of households. The study revealed that the BPL households are aware to some extent about financial inclusion drives and access bank account only for the enjoying the government benefits and schemes. This work conclude that most of the BPL household are included in the financial inclusion system in terms of access of bank account it does not lead to continues usage of bank account.
6 citations
Journal Article•
TL;DR: In this article, a study aimed at the study of the financial inclusion of the underprivileged students of the Christ College, those of the students belonging to SC/ST category.
Abstract: The study is aimed at the study of the financial inclusion of the underprivileged students of the Christ College, those of the students belonging to SC/ST category. They have been excluded for the past many years and the government has been sending their stipend and grants to these students through electronic means to these students. The focus of the financial inclusion is to promote the sustainable development and creating awareness among the students about the banking industry and making them financially literate.
6 citations
Journal Article•
TL;DR: In this article, the authors investigated the access micro finance as an effective tool for socio economic development of respondents of Udaipur district and found that there is a positive relationship between micro finance and the socio economic lives of people.
Abstract: This paper reports on the findings of an exploratory research whose main purpose is to investigate the access micro finance as an effective tool for socio economic development of respondents of Udaipur district. The study sought to establish whether micro finance empowers the poor and reduces poverty. The study was conducted through the use of questionnaires randomly distributed to clients of various micro finance institutions in Udaipur district. Chi-Square test is used as an analytical tool . The study revealed that there is a positive relationship between microfinance and the socio economic lives of people. It was found out that the activities of microfinance institutions resulted in increased social interaction and socio economic sustainability.
4 citations
References
More filters
Journal Article•
TL;DR: In this article, the authors proposed a framework for the moderating effect of access to finance on the relationship between total quality management (TQM), market orientation (MO), and SMEs performance in Nigeria.
Abstract: This study proposed a framework for the moderating effect of Access to Finance (AF) on the relationship between Total Quality Management (TQM), Market Orientation (MO) and SMEs performance in Nigeria. However, relatively few studies have attempted to consider the relationship between Total Quality Management (TQM), Market Orientation (MO) and SMEs performance. The majority of the studies conducted on the relationship between the construct have presented different findings. In order to bridge the gap, a moderating effect of access to finance is introduce or proposed based on the suggestions of the literature. The study is significant to policy makers, government, regulators, and financial institutions on the need to provide access to finance to the real and potential entrepreneurs for SMEs development in Nigeria. In addition, the study will serve as additional literature to few studies on SMEs performance particularly in emerging economies like Nigeria that has not been explored. Keywords: Access to Finance, SMEs, TQM JEL Classifications: L26, L84
22 citations
DOI•
18 Jun 2015TL;DR: In this paper, a study has been undertaken to analyse the prospects of financial inclusion in rural areas, which can be defined as the process of ensuring access to financial services and timely and adequate credit where needed by vulnerable groups such as weaker sections and low income groups at an affordable cost.
Abstract: Financial Inclusion or inclusive financing is the delivery of financial services at affordable costs to sections of disadvantaged and low-income segments of society, in contrast to financial exclusion where those services are not available or affordable. For the purpose of giving such financial services in easy and convenient way government has developed many financial plans in the rural areas. These plans are helpful for people who want to access financial services. The availability of banking and payment services to the entire population without discrimination is the prime objective of this public policy. Thus the term Financial Inclusion can be defined as the process of ensuring access to financial services and timely and adequate credit where needed by vulnerable groups such as weaker sections and low income groups at an affordable cost. The nations should takeover and remedy to reach the financial services to the weaker sections. So, this study has been undertaken to analyse the prospects of financial inclusion in rural areas. Keywords. Bank , Financial Services, Financial Inclusion, Rural Perspective. JEL. G20, G29, G30.
9 citations
01 Jan 2014
TL;DR: In this paper, the authors investigated the level of awareness about financial inclusion forces and examined the extent of financial inclusion among below poverty line households in terms of access and continuous usage of bank account.
Abstract: Financial inclusion plays a major role in driving a way the poverty from the country. The main focus of financial inclusion in India is to promote sustainable development in rural areas .The study investigated that the level of awareness about financial inclusion forces and examined the extent of financial inclusion among below poverty line households in terms of access and continuous usage of bank account. Data are collected from below poverty line households by using interview schedule and multi stage random sampling was used for the selection of households. The study revealed that the BPL households are aware to some extent about financial inclusion drives and access bank account only for the enjoying the government benefits and schemes. This work conclude that most of the BPL household are included in the financial inclusion system in terms of access of bank account it does not lead to continues usage of bank account.
6 citations
Journal Article•
TL;DR: In this article, a study aimed at the study of the financial inclusion of the underprivileged students of the Christ College, those of the students belonging to SC/ST category.
Abstract: The study is aimed at the study of the financial inclusion of the underprivileged students of the Christ College, those of the students belonging to SC/ST category. They have been excluded for the past many years and the government has been sending their stipend and grants to these students through electronic means to these students. The focus of the financial inclusion is to promote the sustainable development and creating awareness among the students about the banking industry and making them financially literate.
6 citations
Journal Article•
TL;DR: In this article, the authors investigated the access micro finance as an effective tool for socio economic development of respondents of Udaipur district and found that there is a positive relationship between micro finance and the socio economic lives of people.
Abstract: This paper reports on the findings of an exploratory research whose main purpose is to investigate the access micro finance as an effective tool for socio economic development of respondents of Udaipur district. The study sought to establish whether micro finance empowers the poor and reduces poverty. The study was conducted through the use of questionnaires randomly distributed to clients of various micro finance institutions in Udaipur district. Chi-Square test is used as an analytical tool . The study revealed that there is a positive relationship between microfinance and the socio economic lives of people. It was found out that the activities of microfinance institutions resulted in increased social interaction and socio economic sustainability.
4 citations