A Study on Financial Inclusion among BPL Families of Chamarajanagar District with Special Reference to Jandhan Accounts.

Abstract

Financial inclusion is akey program for poverty alleviation and balanced growth in any economy. The main objective of the financial inclusion scheme is to bring  financially excluded segment of the economyinto theformal financial system. The primary goal of financial inclusion is to provide vulnerable and economically disadvantaged members of society with affordable access to banking and other financial services. The Reserve Bank of India  and the Government of India together have taken several initiatives to achieve the goal of 100% financial inclusion. A major milestone among them is Pradhan Mantra JandhanYojana. Such an important scheme of financial inclusion was chosen for our study to evaluate its impact on the financial inclusion of BPL families of Chamarajnagar district in terms of their awareness and usage of jandhan accounts.The major findings of the study are that there was great awareness among respondents towards zero balance facility,UPI interface,Rupay debit card and direct benefit transfer but the awareness towards OD facility and free life and accidental insurance coverage was very less.With respect to the usage of Jandhan accounts, the account holders used the bank accounts frequently for depositing and withdrawing through UPI.They have not taken much credit facility from the accounts. The study revealed that there is association between educational qualification and the awareness towards Jandhan scheme. There is also an association between educational qualification, Income  and usage of Jandhan accounts.