A Pragmatic Study on the Challenges Faced By the Rural People of Manipur in Availing and Accessing Financial Products and Services

Despite so many developments, with the availability of schemes from the central government whether individually or society as a whole, there are still few people who aren’t aware of these schemes and still struggle to their day-to-day living. Even though the government is sanctioning so much funds yet only a few people get access to it. Therefore, in the present paper, the researcher studies on various challenges associated with availing and accessing of financial services. Primary data consisting of 392 respondents is employed for the study. Statistical tools are used to calculate the data collected. The study in addition focused on secondary data gathered from RBI website, their working paper, journals, articles. With graph and figures, the data is interpreted. Studies suggest that the products and services provided should be customer centric, building up of more bank branches in rural areas as people travel more than 4 km to get access to the services and to eliminate long queues. While more awareness camp should be taken up for financial literacy of the people.