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Rural Exposure towards the Sukanya Samriddhi Yojana of Financial Inclusion in Fazilka District of Punjab


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1 Research Scholar, Himachal Pradesh University, Shimla, H.P., India
     

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Financial inclusion is a method of ensuring that everybody has access to appropriate financial services at a reasonable cost in a just and equitable way. Sukanya Samriddhi Yojana's purpose is to ensure girl's financial independence by encouraging them to invest in a savings scheme. The primary data is collected from the rural area of the Fazilka District of Punjab to check the awareness and perception level. Data has been collected through the schedule. Multistage sampling and statistical tools such as mean, standard deviation, skewness and kurtosis, chi-square, ANOVA t-test were applied. The study found that people are aware to a high extent about the provision of opening account within the age limit, maximum of two accounts, interest rate, maximum deposit limit, aware to some extent regarding the transfer of accounts and a moderate extent awareness about tax benefits. Government, financial and education institutes, therefore, have to develop better financial literacy programs and motivate the rural masses to include everyone in the mainstream

Keywords

Financial Inclusion, SSY, Multistage Sampling, ANOVA, Financial Independence.
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  • Rural Exposure towards the Sukanya Samriddhi Yojana of Financial Inclusion in Fazilka District of Punjab

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Authors

Aman Bishnoi
Research Scholar, Himachal Pradesh University, Shimla, H.P., India

Abstract


Financial inclusion is a method of ensuring that everybody has access to appropriate financial services at a reasonable cost in a just and equitable way. Sukanya Samriddhi Yojana's purpose is to ensure girl's financial independence by encouraging them to invest in a savings scheme. The primary data is collected from the rural area of the Fazilka District of Punjab to check the awareness and perception level. Data has been collected through the schedule. Multistage sampling and statistical tools such as mean, standard deviation, skewness and kurtosis, chi-square, ANOVA t-test were applied. The study found that people are aware to a high extent about the provision of opening account within the age limit, maximum of two accounts, interest rate, maximum deposit limit, aware to some extent regarding the transfer of accounts and a moderate extent awareness about tax benefits. Government, financial and education institutes, therefore, have to develop better financial literacy programs and motivate the rural masses to include everyone in the mainstream

Keywords


Financial Inclusion, SSY, Multistage Sampling, ANOVA, Financial Independence.

References