Role of Banking services and MUDRA loans on economic development through Financial Inclusion in India

2020 ◽  
Vol 7 (11) ◽  
Keyword(s):  
Economic Development ◽  
Financial Inclusion ◽  
Banking Services

Journey of Financial Inclusion Driven by Indian Banking Industry

2018 ◽  
pp. 186-223
Author(s):  
Abhineet Saxena ◽  
Ashish Sharma
Keyword(s):  
Economic Development ◽  
Financial Institutions ◽  
Rural Areas ◽  
Rural Population ◽  
Banking Industry ◽  
Financial Inclusion ◽  
North Eastern ◽  
North Eastern Part ◽  
Made In

Financial institutions, especially banks, have proved to be a boon for the economic development of a country like India. An attempt has been made in the present chapter to analyze the state of financial inclusion and the role of banking in achieving full financial inclusion in India. The journey of financial inclusion through banking in India has been critically appraised. Some of the important outcomes that can be highlighted are increased banking access of rural population in past few years together with the huge expansion in banking infrastructure in rural areas. Banking in India has been transformed with the introduction of PMJDY, BC Model, etc. Increasing trend has been observed in IMPS and M-Wallet penetration. North-eastern part of the country is still a challenge in the way of financial inclusion. The journey of financial inclusion on the wheels of Indian banking industry is still in search of the ultimate destination, and it will take miles to achieve full financial inclusion.

scholarly journals USO DE LOS SERVICIOS FINANCIEROS. ESTUDIO EMPÍRICO EN ESTUDIANTES UNIVERSITARIOS

2017 ◽  
Vol 2 (1) ◽  
pp. 581
Author(s):  
Milka Elena Escalera-Chávez ◽  
Esmeralda Tejada-Peña ◽  
Arturo García-Santillán
Keyword(s):  
Economic Development ◽  
Empirical Study ◽  
Financial Services ◽  
Financial Inclusion ◽  
Public And Private ◽  
Banking Services ◽  
Frequency Of Use ◽  
Banking Institutions ◽  
Upper Level ◽  
Estudiantes Universitarios

Abstract.USE OF FINANCIAL SERVICES EMPIRICAL. STUDY IN UNIVERSITY STUDENTS.The financially included population has access to banking services, hence this insertion favors the economic development of the population, however there are many people who do not use formal financial services, including students. For this reason, the objective of this work was to identify the frequency with which the upper level students of Tuxtepec Oaxaca access the financial services offered by the Banking Institutions. The sample is made up of 800 upper level students who belong to 8 public and private universities in Tuxtepec Oaxaca. The frequency of use of financial services was checked by means of the test. The results show that students use the financial services offered by Banking Institutions. However, it is important to reiterate that some students do not resort to the financial system, this proportion of the population being an area of opportunity for the process of financial inclusion in Mexico.Key Words: Use, Financial Services, University Students.Resumen.La población incluida financieramente accede a los servicios bancarios, de ahí que ésta  inserción favorece el desarrollo económico de la población, sin embargo existen muchas personas que no  utilizan  los servicios financieros formales, incluyendo a los estudiantes. Por este motivo, el objetivo de este trabajo fue identificar la frecuencia con la que los estudiantes de nivel superior de Tuxtepec Oaxaca acceden a los servicios financieros que ofrece las Instituciones Bancarias. La muestra está conformada por 800 alumnos del nivel superior que pertenecen a 8 universidades públicas y privadas de Tuxtepec Oaxaca. Se  comprobó por medio de la prueba t la frecuencia del uso de los servicios financieros. Los resultados muestran que los estudiantes usan los servicios financieros que ofrecen las Instituciones Bancaria. Sin embargo, es importante reiterar que algunos estudiantes no recurren al sistema financiero, siendo esta proporción de la población un área de oportunidad para el proceso de inclusión financiera en México.Palabras Claves: Uso, Servicios Financieros, Estudiantes Universitarios.

Promoting Indigenous Financial Inclusion

2018 ◽  
Vol 9 (2) ◽  
pp. 1-11
Author(s):  
Michael D'Rosario
Keyword(s):  
Social Services ◽  
Financial Services ◽  
Potential Role ◽  
Banking Sector ◽  
Indigenous Communities ◽  
Financial Inclusion ◽  
Banking Services ◽  
Geographic Dispersion ◽  
Financial Exclusion

This article describes how the majority of Australia's indigenous communities live within isolated regions and are typically characterized by levels of disadvantage not evidenced within mainstream Australian society. While there are a number of reasons for the evidenced disadvantages, access to financial services and social services are acknowledged as key contributors. The article outlines the role of banking sector competition and changing banking structures on the exclusion of indigenous people from banking services. It is claimed herein that access, marketing, price, and self-exclusion all serve to promote financial exclusion. It is posited that forms of access exclusion such as bank branch access and geographic dispersion have served as the key structural impediments to indigenous financial inclusion. Specifically, this article considers the potential role of adaptive cellular technologies and community telecentres in addressing financial exclusion within indigenous communities. Detailing successful ‘social banking' models adopted in several developing countries, it is asserted that m-banking could serve as a powerful tool for inclusion.

Promoting Indigenous Financial Inclusion

2020 ◽  
pp. 348-360
Author(s):  
Michael D'Rosario
Keyword(s):  
Social Services ◽  
Financial Services ◽  
Banking Sector ◽  
Indigenous Communities ◽  
Financial Inclusion ◽  
Banking Services ◽  
Australian Society ◽  
Geographic Dispersion ◽  
Financial Exclusion

This article describes how the majority of Australia's indigenous communities live within isolated regions and are typically characterized by levels of disadvantage not evidenced within mainstream Australian society. While there are a number of reasons for the evidenced disadvantages, access to financial services and social services are acknowledged as key contributors. The article outlines the role of banking sector competition and changing banking structures on the exclusion of indigenous people from banking services. It is claimed herein that access, marketing, price, and self-exclusion all serve to promote financial exclusion. It is posited that forms of access exclusion such as bank branch access and geographic dispersion have served as the key structural impediments to indigenous financial inclusion. Specifically, this article considers the potential role of adaptive cellular technologies and community telecentres in addressing financial exclusion within indigenous communities. Detailing successful ‘social banking' models adopted in several developing countries, it is asserted that m-banking could serve as a powerful tool for inclusion.

AVAILABILITY OF BANKING SERVICES AS A FACTOR OF SUSTAINABLE SOCIO-ECONOMIC DEVELOPMENT

2020 ◽  
Vol 4 (12) ◽  
pp. 80-87
Author(s):  
E. N. LAPINA ◽  
Keyword(s):  
Economic Development ◽  
Federal District ◽  
Financial Inclusion ◽  
North Caucasus ◽  
Banking Services ◽  
Socio Economic Development

The article is devoted to the study of the necessity and importance of ensuring the availability of banking services as a factor of sustainable socio-economic development. Based on the author's approach to the assessment of affordability of the Southern Federal District and North Caucasus Federal District in determining the level of provision areas of banking services, identified the problems limiting the use of banking services and identify steps to improve financial inclusion in selected areas of the country.

scholarly journals INDEX OF SYARIAH FINANCIAL INCLUSION IN INDONESIA

2017 ◽  
Vol 20 (1) ◽  
pp. 99-126 ◽  
Author(s):  
Azwar Iskandar Umar
Keyword(s):  
Economic Development ◽  
Human Development Index ◽  
Financial Inclusion ◽  
Three Dimensions ◽  
Islamic Banking ◽  
Annual Data ◽  
Inclusive Growth ◽  
Banking Services ◽  
Policy Priority ◽  
Province Level

This paper calculates and analyzes the Index of Syariah Financial Inclusion (ISFI) covering three dimensions; the accessibility, the availability and the usage of Islamic banking services. Using the annual data in province level in Indonesia during the period of 2010-2015, this paper found that the Index of Syariah Financial Inclusion is generally low and Bangka Belitung is the most financially inclusive province of Indonesia. Furthermore, the results show that the Index of Syariah Financial Inclusion is positively correlated with the Human Development Index. This conclusion suggests the promotion of Syariah Financial Inclusion to be a policy priority in Indonesia to achieve the central goals of inclusive growth, welfare and economic development.

scholarly journals (The Role of Financial Inclusion in Providing Protection to Beneficiaries of Financial Services in the Palestinian Banking Sector (2013/2017: دور الشمول المالي في توفير الحماية للمستفيدين من الخدمات المالية في القطاع المصرفي الفلسطيني- الفترة (2013- 2017)

2019 ◽  
Vol 3 (6) ◽  
Author(s):  
Yasser Ahmed Shaheen
Keyword(s):  
Consumer Protection ◽  
Financial Services ◽  
Financial Stability ◽  
Banking Sector ◽  
Secondary Data ◽  
Financial Education ◽  
Financial Inclusion ◽  
Banking Services ◽  
Degree Of Protection

  The study aimed at examining some of the indicators of financial inclusion in the Palestinian banking sector through published secondary data on the Palestinian banking sector during the period (2013- 2017), as well as to measure the degree of protection for beneficiaries of financial services in the Palestinian banking sector. The researcher used the descriptive analytical method to suit the purposes of the study. The secondary data published and prepared by the researcher were used to examine the state of financial coverage in the banking sector. A questionnaire has been designed for the purpose of collecting preliminary data regarding the level of protection provided by the banking sector to users of financial banking services through 8 areas of protection developed after reference to literature and previous studies. The study population consisted of all the beneficiaries of banking financial services in the West Bank. In view of the large size of the study society, a soft sample of (100) conditional on the characteristics of the respondents was used in terms of (banking culture, years of experience in dealing with banks, Sectoral& banking diversification).The researcher reached the following results: - The Palestinian banking sector promotes the reality of financial inclusion, which contributes significantly to enhancing financial stability. Where banks are strengthening protection for users of banking services, although the level of protection was average (2.78) overall score through the eight areas covered by the study. - The regulatory and supervisory role of the Palestinian Monetary Authority in this important sector was medium. Consumer protection bodies are required to have an active and proactive role to organize the required protection. The researcher recommended the importance of financial education to improve the financial personality of individuals and institutions, help them understand their rights and duties in dealing with the services discharged, the importance of the consumer protection associations roles in enhancing banking protection.    

scholarly journals PENERAPAN KEADILAN DALAM PEMBANGUNAN EKONOMI DENGAN KEBIJAKAN INVESTASI MELALUI BANK SYARIAH

2020 ◽  
Vol 4 (2) ◽  
pp. 333-356
Author(s):  
Ayu Kholifah
Keyword(s):  
Economic Development ◽  
Banking System ◽  
Investment Policy ◽  
Islamic Banking ◽  
Banking Services ◽  
Policy Model ◽  
Policy Models ◽  
Principle Of Justice ◽  
Banking Institutions

Abstract Economic development is one of the effort to realize "social justice for all Indonesian people", so the process of achieving should be pursued in a justice way, so that there is no imbalance that can make the goals not be attained maximally. Sharia Bank is the only banking system that explicitly states that banking activities are based on the justice principle.  Based on that case, this paper will discuss what is the indicator of justice and how urgent is the application of justice principle in banking activities. Then, find out what investment policy models can enhance the role of the community to contribute to development through banking institutions that have applied the principle of justice. The results showed that: first, an indicator of justice in banking activities is based on an existence of the "harm" thing, banks with riba potentially harm both the bank and the customer; secondly, choosing banking services that contain injustice is just the same to choose madharat, because injustice is zhalim; thirdly, Indonesia can implement a policy model of separating deposit and investment accounts, which in investment products the bank acts as a facilitator rather than a fund manager as in deposit accounts. Keywords: Justice, Economic Development, Islamic Banking, Investment.   Abstrak Pembangunan ekonomi adalah salah satu upaya untuk mewujudkan “keadilan sosial bagi seluruh rakyat Indonesia”, sehingga proses untuk mencapainya sudah seharusnya ditempuh dengan cara yang adil agar tidak terjadi ketimpangan yang bisa mengakibatkan tidak maksimalnya pencapaian tujuan tersebut. Bank Syari’ah merupakan satu-satunya sistem perbankan yang secara eksplisit menyebutkan bahwa aktifitas perbankan dijalankan berdasrkan prinsip keadilan.Berdasarkan permasalahan tersebut, penelitian ini akanmembahas tentang apa indikator keadilan dan bagaimana urgensi penerapan prinsip keadilan dalam aktifitas perbankan, serta menemukan model kebijakan investasi yang dapat meningkatkan peran masyarakat untuk berkontribusi dalam pembangunan ekonomi melalui lembaga perbankan yang telah menerapkan prinsip keadilan. Hasil penelitian menunjukan bahwa: pertama, indikator keadilan dalam aktifitas perbankan yaitu berdasarkan ada atau tidaknya unsur “merugikan”, bank dengan sitem ribaberpotensi merugikan baik bagi pihak bank maupun nasabah; kedua,memilih jasa perbankan yang mengandung unsur ketidakadilan sama saja dengan memilih kemadharatan, karena ketidakadilan adalah sebuah kedzaliman; ketiga, Indonesia bisa menerapkan model kebijakan pemisahan akun deposito dan investasi, yang mana dalam produk investasi bank bertindak sebagai fasilitator bukan pengelola dana seperti dalam deposito. Kata kunci: Keadilan, Pembangunan Ekonomi, Bank Syari’ah, Investasi.

Banking or Under-banking: Spatial Role of Financial Inclusion and Exclusion

2021 ◽  
pp. 097300522110371
Author(s):  
Rajat Singh Yadav ◽  
Kalluru Siva Reddy
Keyword(s):  
Financial Literacy ◽  
Financial Services ◽  
Social Inclusion ◽  
Probit Model ◽  
Financial Inclusion ◽  
Spatial Density ◽  
Bank Account ◽  
Banking Services ◽  
Economic Agents

Access to bank account is only a part of the problem when we talk of financial inclusion because several people with a bank account are not necessarily using them to deposit their savings or carry out transactions. This article makes an attempt to examine the reasons for low utilisation of banking facilities. It employs financial inclusion insights (FII) data for Indian population to find out an outcome of financial inclusion (and thus social inclusion as well) based on the usage of banking services with covariates like financial literacy, the probability that any financial service is accessible to the respondent in terms distance, type of mobile phone and spatial density. We use truncated probit model to measure the incidence of under-banking. Our findings show that there is a negative association between supply-side constraints and usage of banking services, implying that low access to financial services in time and space stands as a hindrance to financial inclusion. Further, we find from the financial inclusion and exclusion map at the district level that even though economic agents intend to participate in the space in which he/she is living is not much inclusive.

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