AN IMPACT OF FINANCIAL INCLUSION IN VILLAGES OF WEST BENGAL: A STUDY OF LEGO GRAM PANCHAYET, BANKURA

Dr. Santosh Koner

Abstract


Financial inclusion we mean inclusion of all families in the organised banking network, then financial inclusion has been achieved in this gram panchayat.

The maximum savings bank accounts are opened for getting payment for MGNREGA project, student scholarships from school, Kanyashree from school and college  college or getting subsidies for LPG. A minimum number of savings accounts are opened otherwise and for micro savings or getting bank loans.

Most of the villages under Lego Gram Panchayat have at least one savings bank account in Mallabhum Gramin Bank , Bankura District Central Co-operative Bank or Punjab National Bank, or State Bank of India, or Bank of India or Post Office Savings Bank of Lego Post Office.

Now consider how many people are utilised banking services for their livelihood? Whether their standards of living improved due financial inclusion, or whether they get more loans from banks for meeting their needs or whether their savings have been deposited with the banks-these are some questions which need to be investigated to know the real impact of financial inclusion.

The main purpose of the present paper is to find out the factors that stand in the way of getting the  full benefits of financial inclusion in village of the study area of West Bengal.


Keywords


Financial Inclusion, Banking Products, Information gap

Full Text:

PDF

References


(1) Agarwal, Parul (2014), “Financial Inclusion in India: a Review and Initiatives and Achievements”, IOSR Journal of Business and Management, Volume 16, Issue 6, June.

(2) Divya (2014), “A Study On Impact Of Financial Inclusion With Reference To Daily Wage Earners”, Journal of Business Management & Social Sciences Research, Volume 2, No. 6, June.

(3) Kamath, Rajalaxmi (2008) "Ramanagaram Financial Diaries: Loan repayments and cash patterns of the urban slums", IIMB Working paper 268.

(4) Ministry of Consumer Affairs, Food and Public Distribution (2011), “Number of Ration Shops in the country”, June.

(5) Planning Commission (2009), “Report on Financial Sector Reforms” (Chairman: Dr. Raghuram G. Rajan).

(6) Radcliffe, Dan (2012), “A Digital Pathway to Financial Inclusion”, Bill & Melinda Gates Foundation.

(7) RBI (2005), “Report on Rural Credit and micro finance” (Chairman: H.R. Khan). IIMB-WP N0. 474 31

(8) RBI (2013), “How the poor manage their finances; A study of the portfolio choices of poor households in Ernakulum district, Kerala”, Development Research Project, Mumbai and Centre for Socio-Economic and Environmental Studies, Kochi.


Refbacks

  • There are currently no refbacks.




Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

Copyright © 2019 INTERNATIONAL EDUCATION AND RESEARCH JOURNAL