FINANCIAL INCLUSION IN RURAL KERALA: A CASE STUDY OF CHERIYANADU PANCHAYATH
DOI:
https://doi.org/10.29121/shodhkosh.v3.i2.2022.4601Keywords:
Financial Inclusion, Rural Banking, Shgs, Kerala, Financial Literacy, Digital FinanceAbstract [English]
Financial inclusion plays a pivotal role in fostering inclusive economic growth and poverty alleviation across developing economies. In India, significant strides have been made through policy interventions, technology-driven banking innovations, and community-based financial empowerment programs. This paper examines the extent and mechanisms of financial inclusion in Cheriyanadu Panchayath, Kerala, a state recognized for its superior human development indicators and progressive social policies. By surveying 50 rural households, this research analyzes the penetration of financial services, financial literacy levels, borrowing behavior, and the role of Self-Help Groups (SHGs) and government schemes. Findings indicate that MGNREGS-linked bank accounts, SHG participation, and high literacy have contributed to strong inclusion outcomes. However, substantial gaps in financial literacy and product diversification persist. Recommendations focus on enhancing financial advisory services, strengthening SHG-bank linkages, and promoting digital and investment literacy.
References
Chattopadhyay, S. K. (2011). Financial Inclusion in India: A case study of West Bengal. RBI Working Paper Series, No. 8.
Deogharia, P. C. (2013). Financial Inclusion and Financial Literacy: A Paradigm Shift from Financial Exclusion to Formal Credit. Journal of Rural Development, 32(4), 381-393.
Mullapally, J. (2014). Kerala's Social Development Model and Financial Inclusion. Indian Journal of Economics and Development, 10(2), 123-136.
NABARD. (2022). State Focus Paper 2021-22. National Bank for Agriculture and Rural Development.
RBI. (2008). Report of the Committee on Financial Inclusion. Reserve Bank of India.
Rangarajan Committee. (2008). Report of the Committee on Financial Inclusion. Government of India.
Sarma, M. (2012). Index of Financial Inclusion – A measure of financial sector inclusiveness. Berlin Working Papers on Money, Finance, Trade and Development, Working Paper No. 07/2012.
World Bank. (2021). Global Findex Database 2021: Financial Inclusion, Digital Payments, and Resilience in the Age of COVID-19. Washington, DC: World Bank
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2022 Sreedevi Gopalakrishnan
This work is licensed under a Creative Commons Attribution 4.0 International License.
With the licence CC-BY, authors retain the copyright, allowing anyone to download, reuse, re-print, modify, distribute, and/or copy their contribution. The work must be properly attributed to its author.
It is not necessary to ask for further permission from the author or journal board.
This journal provides immediate open access to its content on the principle that making research freely available to the public supports a greater global exchange of knowledge.
