Examining The Determinants of Financial Inclusion In Jammu & Kashmir State
Journal Title: IOSR journal of Business and Management - Year 2018, Vol 20, Issue 3
Abstract
Financial inclusion is defined as the process of providing access to financial services and timely and adequate credit at an affordable price when needed by weaker sections of society (Rangarajan Committee,2008).Availability of financial products and services is considered as an important factor in the economy of any country. In India, policy makers have been focusing lately on providing financial services available to all sections of society in order to bring them under the umbrella of main stream development through financial inclusion. Studies indicate a positive correlation between financial inclusion and socioeconomic growth.In Jammu & Kashmir, State level banking committee (SLBC) has been formed which is headed by J&K bank, to keep a check on financial inclusion progress in the state. Various services are provided under financial inclusion to inculcate the habit of savings among people of the state. The aim of this paper is to study the various components of financial inclusion in the state and to identify various factors that determine financial inclusion. A number of factors were identified under different components which determine financial inclusion in the state. The research highlights that there are various reasons for low level of usage which needs to be taken care of for increasing the percentage of inclusiveness in the state.
Authors and Affiliations
Varun Abrol, Parneet Kaur
Keywords
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- EP ID EP409895
- DOI 10.9790/487X-2003020711.
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