Awareness of Rural Women towards Financial Inclusion Schemes
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2014
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Abstract
Financiai Inclusion is an integral part o f the growth process. It is critical for achieving inclusive economic
growth arid only such a growth is sustainable. It is an acknowledged fact that Indian economy is one o f the fastest
growing economies in the world. Majority o f the population in India resides in rural areas. Thus development o f rural
India is a key for economic development. Credit is one o f the veiy important inputs o f economic development. Micro
Finance, Self-Help Groups and Financial Inclusion are the three dimensional approach to eliminate poverty and
ensure rural development No-frill account has emerged as a powerful tool for financial inclusion, which links low
income groups with banks. In India, Micro Finance is dominated by the SHGs through bank linkage programme.
.Through a cost effective mechanism it aims at providing financial services to the unreached poor. The proximity o f the
'financial seivice is another fact and also due to most o f the excluded consumers who are unaware o f the bank’s
products, which are beneficial for them. To analyze the association between the social economic status and level o f
^awareness toward financial inclusion. Sample o f 300 respondents, particularly rural women belonging to weaker
^section o f the society were selected from five villages in Sulur taluk o f Goimbatore district using simple random
•isampling. The primaty data were collected through a well structured interview schedule. The data were analysed
‘through Percentage, Mean and F ratio. The results revealed that Financial inclusion programs must emphasize the
iactive participation o f women to maximize impact. Specifically targeting women’s training coupled with financial
{education to increase women’s access to simple and affordable savings services should be an integral part o f any
{financial inclusion strategy.