Financial Inclusion of Deprived Groups – A Study Conducted in Four Vulnerable Areas of Ernakulam District in Kerala

Abstract

Banking is an imperative force of Financial Inclusion.  Financial Inclusion is coined as a process that ensures the ease of admittance, availability and usage of the formal financial system for all members of an economy including the deprived groups living in our society.  This study mainly aims to assess the level of financial inclusion among the deprived groups who are living in Ernakulam Dt. Of Kerala State.  This research work also intends to know the consciousness of the respondents as regards the financial inclusion, and financial products and  services offered by banks.  This study implemented in four rural underdeveloped areas in Ernakulam District ie Kodanad, Kuttampuzha, Panagad and Chellanam. All these are highly backward areas in Ernakulam District. The respondents are selected at random from these areas.  Forty respondents are selected from each group at a total of 160 respondents.  The main tool used for collecting data is interview schedule.  The finishing part of the study reveals that the financial inclusion practices of this selected areas are acceptable.