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Mapping Accessibility of Financial Services under Financial Inclusion of Wagdi Tribe in Bhagatpura Panchayat of Kushalgarh Block in Banswara District of Rajasthan


Aditi Khan , The DHAN Academy


Mapping Accessibility of Financial Services


India is a country of millions of people among them around 833.1 million people live in 640,867 different villages. But the mainstream amenities and entitlements do not reach to all the citizen of this country. In such a situation this study was conducted at Kushalgarh Block in Banswara District of Rajasthan. This study mainly focused on the financial inclusion. Financial inclusion means the accessibility of banking and financial services like credit, savings, insurance, digital banking system to every individual in the society according to people’s need without doing any form of discrimination. From the study it is found that this tribal based area where people are financially and socially belongto poor category. Migration and labour work is the primary occupation of 60% families where 26% family’s main occupation is agriculture. In deficit condition most of the people prefer informal credit system like money lender, relatives, MFIrather than formal banking system because they are manipulated by business Correspondents (BC), refused by bank and also they don’t like banking process. Notra is one of the famous informal credit systems in this area which is use mainly in the time of marriage, house construction or big health hazard purpose also. The study reviles that the 100 per cent of the population is covered under the bank account services but on the other hand only 21% people have savings a/c pass book, 29% people have ATM card and out of this only few are using ATM because due to less money they stop transaction through ATM, that make it expired and only 2% people have cheque book sometime they take cheque in migration and deposit that cheque in bank account. People don’t do financial planning and budgeting for their daily life but in the time of marriage, building house, health hazard they go for financial planning and budgeting. Whenever they need credit they first plan it and then only go for credit and after taking first credit if any person want second time credit before repaying his first loan, he will get loan or not that totally depends on creditor person who is providing loan.In such case any external help can be a boost for them to come out of poverty cycle. Self Help Group Intervention also can be an appropriate solution of accessing formal system because through this system, people can grow their savings habit, easily then can get loan and other banking facilities as well as also they can come out from poverty.

Other Details

Paper ID: IJSRDV8I20104
Published in: Volume : 8, Issue : 2
Publication Date: 01/05/2020
Page(s): 102-106

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