Financial inclusion at the bottom of the PYRAMID: A Case of Gorakhpur Region
Abstract
Financial Inclusion is an initiative to provide credit to the weaker sections of society at affordable cost. This paper emphasizes the areas which need special attention by financial service providers. This paper tries to dwell on the various factors, which rural households are dealing with and it also tries to analyze the challenges which bankers are facing regarding financial inclusion. There are thousands of rural people who don’t even understand the financial products which are best suited to their needs, due to a lack of awareness in this class. The efforts of financial service providers should be more target oriented and they should design strategies regarding banking related to this unbanked segment. An attempt has been made to look into the different facets of financial inclusion but it will become effective only when the policymakers show their concern regarding this. This article tries to analyze and interpret the problems faced by bankers when they open a branch in the rural area and the problems faced by customers. This article gives an insight regarding financial inclusion. Awareness level needs to be increased among rural people about the available financial product. An attempt has been made to analyze the variations in findings between govt. reports on financial inclusion and actual reports through this research.
Authors
Atul Srivastava