IJSSER

Title: FINANCIAL INCLUSION IN RURAL ECONOMY: EXPERIENCES AND THE WAY FORWARD
Authors: Dr. Sonal Yadav
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Dr. Sonal Yadav Assistant Professor, Economics and Public Policy Area, Amrut Mody School of Management, Ahmedabad University, Ahmedabad 380009, Gujarat, India
MLA 8 Yadav, Dr. Sonal. "FINANCIAL INCLUSION IN RURAL ECONOMY: EXPERIENCES AND THE WAY FORWARD." Int. j. of Social Science and Economic Research, vol. 8, no. 2, Feb. 2023, pp. 225-239, doi.org/10.46609/IJSSER.2023.v08i02.002. Accessed Feb. 2023. APA 6 Yadav, D. (2023, February). FINANCIAL INCLUSION IN RURAL ECONOMY: EXPERIENCES AND THE WAY FORWARD. Int. j. of Social Science and Economic Research, 8(2), 225-239. Retrieved from https://doi.org/10.46609/IJSSER.2023.v08i02.002 Chicago Yadav, Dr. Sonal. "FINANCIAL INCLUSION IN RURAL ECONOMY: EXPERIENCES AND THE WAY FORWARD." Int. j. of Social Science and Economic Research 8, no. 2 (February 2023), 225-239. Accessed February, 2023. https://doi.org/10.46609/IJSSER.2023.v08i02.002.
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ABSTRACT: The objective of this study is to examine the status of financial inclusion in the rural economy and to understand the extent to which the policies of financial inclusion have been successful, especially in rural areas. To increase banking penetration and to promote financial inclusion, the Reserve Bank of India (RBI) and the Government of India (GoI) have made substantial efforts to ensure that all the adult citizens of the country have a bank account. Various studies and reports have measured the financial inclusion or exclusion index. The existing financial indices are computed based on the supply-side information on financial services and they fail to capture the demand-side dynamics (Dev, 2006). The present study tries to adopt the demand-side approach of assessing financial inclusion. This approach is more of a micro-level analysis rather than a macro view of access to the financial sector. With this background, the present study assesses whether banking facilities have reached the rural areas? Have people of rural areas particularly disadvantaged and low-income groups availed the benefits of banking facilities for their monetary transactions? What are the factors affecting access to financial services? The study adopts the empirical research strategy to measure the extent of financial inclusion. The scope of the research is restricted to rural and unbanked areas of the Kachchh district of Gujarat.

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