Causes and Effects of Financial Unawareness on Financial Products- A Study on Notified Areas of Guwahati Municipal Corporation
Journal Title: International Journal of Interdisciplinary and Multidisciplinary Studies (IJIMS) - Year 2014, Vol 2, Issue 1
Abstract
Economic development of a nation can be achieved only when all segments of its population comes within the ambit of formal financial services. In this respect government of India and the Reserve Bank of India has taken several initiatives to bring the underprivileged and the weaker sections of the Indian society within the banking fold, the most recent initiative being the Pradhan Mantri Jan Dhan Yojana. Although these initiatives have been able to bring a sizeable portion of the population under the banking fold, still a large part of the population is outside the coverage of the formal financial sector and the various economic packages declared by the government from time to time. As such, there arises the need to know the reasons as to why a sizeable part of the population is still outside the coverage of the formal financial sector and government policies. In this context the present study has been carried out to know the causes and effects of financial exclusion amongst the financially excluded population of Guwahati city as identified by Guwahati Municipal Corporation.
Authors and Affiliations
Swapna Boruah, Kalyan Mukherjee
Keywords
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