A STUDY ON THE BARRIERS TO FINANCIAL INCLUSION IN THE RURAL AREAS OF COIMBATORE
Abstract
Financial inclusion also called inclusive finance is the effort made by the banks to make the product and services of the bank available to the rural and financially excluded people living in and around the bank location. Though so many steps have been made by the banks and government to make them aware of the benefits and services provided by the bank, most people are still excluded from financial inclusion irrespective of their financial soundness of the people. The government of India is also making many efforts to make cashless finance in India but failed in many aspects due to the lack of awareness among the people in rural areas. The researcher attempted to study the barriers to financial inclusion taking 175 sample respondents from the rural areas in Coimbatore. The findings and suggestions were made by the analysis of data using percentage and chi-square analysis tools. The findings made by the authors were that the people are not been given proper information about the benefits that were available in financial inclusion and this can be eradicated by a proper financial campaign addressed in clear, understandable, and given in local languages.
Keyword : Financial inclusion, barriers, rural areas, and investments.
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