Abhigyan

Open Access Open Access  Restricted Access Subscription Access
Open Access Open Access Open Access  Restricted Access Restricted Access Subscription Access

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


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

   Subscribe/Renew Journal


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.
User
Subscription Login to verify subscription
Notifications
Font Size

  • Addai, B. (2017). Women empowerment through microfinance: Empirical evidence from Ghana. Journal of Finance and Accounting, 5(1), 1. 10.11648/j.jfa.20170501.11

  • Ademola S, S. (2017). Influence of financial inclusion and social inclusion on the performance of women-owned businesses in Lagos state, Nigeria. Scholedge International Journal of Management & Development, 4(3), 18. 10.19085/journal.sijmd040301

  • Ajide, F. (2015). Financial inclusion and rural poverty reduction: Evidence from Nigeria. International Journal of Management Sciences and Humanities,3(2), 1-23.

  • Archana, H. N. (2013). Financial Inclusion - Role of Institutions. Innovative Journal of Business and Management, 2(4), 44–48.

  • Arun, T., & Kamath, R. (2015). Financial inclusion: Policies and practices. IIMB Management Review, 27(4), 267–287. 10.1016/j.iimb.2015.09.004

  • Bhatia, S., & Singh, S. (2019). Empowering women through financial inclusion: A study of Urban slum. Vikalpa, 44(4), 182–197. 10.1177/0256090919897809

  • Chakrabarty, D. K. C. (2011, October 14). Financial Inclusion: Partnership between Banks, MFIs, and Communities. https://www.rbi.org.in/scripts/bs_speechesview.aspx?id=608

  • Chakravarty, S. R., & Pal, R. (2013). Financial inclusion in India: An axiomatic approach. Journal of Policy Modeling, 35(5), 813–837. 10.1016/j.jpolmod.2012.12.007

  • Deb, R. (2016). Determinants of savings in Sukanya Samriddhi Account: Evidence from Tripura. IIM Kozhikode Society & Management Review, 5(2), 120–140. 10.1177/2277975216631887

  • Demirgüç-Kunt, A., Klapper, L., & Singer, D. (2013). Financial inclusion and legal discrimination against women: Evidence from developing countries. World Bank Policy Research Working Paper. 10.1596/1813-9450-6416

  • Desai, R. (2012). Governing the Urban poor: Riverfront development, slum resettlement, and the politics of inclusion in Ahmedabad. Economic and Political Weekly, 47(2), 49–56.

  • Dev, M. S. (2006). Financial Inclusion : And issues challenges. Economic and Political Weekly, 41(41), 4310–4313.

  • Diniz, E., Birochi, R., & Pozzebon, M. (2012). Electronic commerce research and applications triggers and barriers to financial inclusion : The use of ICT-based branchless banking in an Amazon county. Electronic Commerce Research and Applications, 11(5), 484–494. 10.1016/j.elerap.2011.07.006

  • FinScope. (2016). Financial Inclusion in Rwanda http://www.bnr.rw/fileadmin/templates/bnr/images /FinScope_Rwanda_2016_Report.pdf

  • Gabor, D., & Brooks, S. (2017). The digital revolution in financial inclusion : International d e v e l o p m e n t i n t h e f i n t e c h e r a . N e w P o l i t i c a l E c o n o m y , 0 ( 6 ) , 1 – 1 4 . 10.1080/13563467.2017.1259298

  • Garcia, F., Opromolla, L. D.,Vezzulli, A., Marques,R.(2018).The effects of official and unofficial information on tax compliance (Working Paper no. 7020). Center for Economic Studies and ifo Institute (CESifo).

  • Garg, S., & Agarwal, D. P. (2014). Financial inclusion in India – A review of initiatives and achievements. IOSR Journal of Business and Management, 16(6), 52–61. 10.9790/487x-16615261

  • Gattoo,M.H. &Akhtar,M.J. (2019). Pakistan institute of development economics, Islamabad the development of India's financial inclusion agenda- Some lessons for Pakistan. The Pakistan Development Review, 54(4), 569-584.

  • Ghosh, J. (2013). Microfinance and the challenge of financial inclusion for development. Cambridge Journal of Economics, 37(6), 1203–1219. 10.1093/cje/bet042

  • Goel, N., & Madan, P. (2019). Benchmarking financial inclusion for women entrepreneurship- A study of Uttarakhand state of India. Benchmarking, 26(1), 160–175. 10.1108/BIJ-01-2018-0023

  • Grohmann, A., Klühs, T., & Menkhoff, L. (2018). Does financial literacy improve financial i n c l u s i o n ? C r o s s c o u n t r y e v i d e n c e . Wo r l d D e v e l o p m e n t , 1 1 1 , 8 4 – 9 6 10.1016/j.worlddev.2018.06.020

  • Gupte, R., Venkataramani, B., & Gupta, D. (2012). Computation of Financial Inclusion Index for India. Procedia - Social and Behavioral Sciences, 37, 133–149. 10.1016/j.sbspro.2012.03.281

  • Hannig, A. and Jansen, S. (2010) Financial inclusion and financial stability: Current policy issues ( Wo r k i n g P a p e r - 2 5 9 ) . A s i a n D e v e l o p m e n t B a n k I n s t i t u t e , To k y o . http://www.adbi.org/workingpaper/2010/12/21/4272.financial.inclusion.stability.policy.issues/

  • Jones, L., Bramm, A., Jones, L., Burns, C., & Yoon, C. (2019). Financial inclusion: Challenges and opportunities. Women's Economic Empowerment, 63–80. 10.3362/9781780447506.005

  • Kemal, A. A. (2019). Mobile banking in the government-to-person payment sector for financial i n c l u s i o n i n P a k i s t a n . I n f o r m a t i o n Te c h n o l o g y f o r D e v e l o p m e n t , 2 5 ( 3 ) . 10.1080/02681102.2017.1422105

  • Kumar, N. (2013). Financial inclusion and its determinants: Evidence from India. Journal of Financial Economic Policy, 5(1), 4–19. 10.1108/17576381311317754

  • Kumari, V. G. L., & Subrahmanyam, S. E. V. (2017). Women empowerment through financial inclusion – A study with reference to YSR Kadapa district of Andhra Pradesh. International Journal of Applied Research,3(4), 509–513.

  • Leeladhar, S. (2006, January). Taking banking services to the common man - Financial inclusion. Reserve Bank of India Bulletin, 9519, 73–77.

  • Levi-D' Ancona, E., Levi-D', E., Levi-D'ancona, A. E., & Levi-D'ancona, T. N. (2014). Financial Literacy and Financial Inclusion of Women in Rural Rajasthan. Independent Study Project (ISP) Collection. 1953.https://digitalcollections.sit.edu/isp_collection/1953

  • Mahajan, S. S., & Kalel, N. (2013). An assessment of potential financial inclusion of slum dwellers through Business Correspondent Model. IUP Journal of Bank Management, 12(4), 7–15. http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=92605528&site=ehost-live

  • Moazzam, A., Rehman, H., Ansari, N. (2015). Role of microfinance institutions in women empowerment: A case study of Akhuwat, Pakistan. South Asian Studies, 30, 107–125.10.17051/ilkonline.2020.03.735510

  • Nagaraju, S. (2018). Customer's Satisfaction towards Sukanya Samriddhi Yojana ( Ssy ) with special reference to Suryapet district (T.S). International Journal of Innovative Research Explorer,5(2), 181–192.

  • Ng'weno, A., Oldja, L., Hassan, M., and, & Kapoor, P. (2018). Demand-side review of financial inclusion for women in entrepreneurship and smallholder agriculture. International Development Research Centre.https://idl-bnc-idrc.dspacedirect.org/bitstream/handle/10625/57157/IDL-57157.pdf?sequence=5&isAllowed=y

  • Park, C.-Y., & Mercado, R. J. (2015). Financial inclusion, poverty, and income inequality in developing Asia. SSRN Electronic Journal, (426). 10.2139/ssrn.2558936–

  • Sadh, A., & Kapoor, P. S. (2012). Save the girl child initiatives in India - A social marketing perspective. Indore Management Journal, 4(3), 1834.

  • Sarma, M., & Pais, J. (2008). Financial inclusion and development: A cross country analysis. Annual Conference of the Human Development and Capability Association,168(10–13), 1–30. https://doi.org/10.1002/jid

  • Sharma, A. & Kukreja, S. (2013). An analytical study: Relevance of financial inclusion for developing nations. Research Inventory: International Journal Of Engineering And Science, 2(6), 15–20.

  • Sharma, D. (2016). Nexus between financial inclusion and economic growth: Evidence from the emerging Indian economy. Journal of Financial Economic Policy, 8(1), 13–36. 10.1108/JFEP-01-2015-0004

  • Swamy, V. (2014). Financial inclusion, gender dimension, and economic impact on poor households. World Development, 56, 1–15. 10.1016/j.worlddev.2013.10.019

  • Ul-hameed, W., Mohammad, H. Bin, Binti, H., & Shahar, K. (2018). Retracted: Microfinance institute's non-financial services and women-empowerment: The role of vulnerability. Management Science Letters, 8, 1103–1116. 10.5267/j.msl.2018.7.001

  • Vemulapalli, A., & Anthuvan, V. L. (2017). A study on usage of initiatives for financial inclusion by dalit women in Kancheepuram district. International Journal of Research in Management, Economics and Commerce, 07(08), 111–119.–

  • Venkatachalam, V., &Ravindran, G.(2016). Account holder's satisfaction towards Sukanya Samriddhi

  • Account ( SSA ) of postal department with special reference to coimbatore city. International Journal of

  • Marketing and Human Resource Management (IJMHRM), 7(3), 7178


Abstract Views: 284

PDF Views: 0




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

Abstract Views: 284  |  PDF Views: 0

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