Bank linkage programme and financial inclusion: A case study of Mysore District

Thimmarayappa, R. and Umesh, D. P. (2018) Bank linkage programme and financial inclusion: A case study of Mysore District. IOSR Journal of Business and Management (IOSR-JBM), 20 (4 (II)). pp. 48-51. ISSN 2278-487X

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Abstract

The main problem faced by the lower income group people is the non accessibility of banking and other financial services, which causes hindrance in their social and economic development. These financial products include insurance,credit etc.The great tragedy lies in the fact that sometimes even though there are certain financial services which are specially designed to meet the needs of these low income group people, these people are not aware of it due to illiteracy or any other reason. Thuslack of awareness also leads to the financial exclusion of these people. For the achievement of financial inclusion, the most important goal is to make the banking facilities available to all the unbanked areas and to each and every household. Hardly one-fourth of the rural households are assisted by banks. Hence the major task before banks is to bring most of those excluded, i.e. 75% of the rural households, under banking fold. But the task is not so easy since they are illiterate, poor and unorganized. This paper examines the bank linkage and the measures taken by the banks and problem involved in financial inclusion. The sample has been collected from the 50 respondents in Mysore District. What is needed is to improve their living standards by initiatingnew/increased economic activities with the help of banks, NGO‟s, microfinance, mobile banking, no frill accounts, and local developmental agencies. To start with, it is necessary to develop a fair understanding of their profile. In addition, their perception about the bank and its services needs to be understood. So there is a need for the formal financial system to look at increasing financial literacy, financial counselingand Business correspondentto focus on financial inclusion and distress amongst farmers.

Item Type:	Article
Subjects:	G Commerce > Commerce
Divisions:	Maharajas college
Depositing User:	Manjula P Library Assistant
Date Deposited:	14 Aug 2019 11:45
Last Modified:	14 Aug 2019 11:45
URI:	http://eprints.uni-mysore.ac.in/id/eprint/6397

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