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Financial Inclusion and Indebtedness-A Study of Rural Punjab


Mini Goyal



Indian Journal of Economics and Development
Year : 2016, Volume : 12, Issue : 1a
First page : ( 225) Last page : ( 230)
Print ISSN : 2277-5412. Online ISSN : 2322-0430.
Article DOI : 10.5958/2322-0430.2016.00067.6

Financial Inclusion and Indebtedness-A Study of Rural Punjab

Goyal Mini*
Department of Economics and Sociology, Punjab Agricultural University, Ludhiana-141004

*Corresponding author’s email:

JEL Codes G20, G21, G22

Online published on 26 April, 2016.

Financial inclusion is a process of ensuring access to financial services and timely and adequate credit at an affordable cost. For financial growth, it is a move from opening an account in the bank to regular savings and finally to a relationship which enables the borrower to access loans on regular basis. The present study was conducted in rural Punjab with the objectives to examine the extent of financial inclusion in terms of number bank accounts and to analyze the availability of institutional and non-institutional credit, its adequacy, timely access to credit and rate of interest. Ten villages were selected for the purpose of study and total enumeration method was used for collection of primary data. The study highlighted that despite the majority of the respondents having bank account, the access to credit was very low which needs the attention of the policy makers.

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