FINANCIAL INCLUSION AND ITS IMPACT ON SLUM DWELLERS IN COIMBATORE CITY

Abstract

The financial system in India has grown rapidly in the last three decades. The functional and geographical coverage of the system is truly impressive, but still a significant portion of the households remain outside the coverage of the formal banking sector. The essence of financial inclusion is to ensure that a range of appropriate banking and financial services is available to every individual enabling them to understand and access those services. The objectives of the study are to assess the socio economic conditions and the level of financial inclusion among slum dwellers in the central zone of the Coimbatore city and to examine the impact of financial inclusion on slum dwellers and their level of satisfaction towards financial inclusion products and services. A sample of 100 households has been taken for the study by adopting convenient sampling technique. Percentage analysis and chi –square analysis have been applied to analyse the data. The study has concluded that the opening of BSBD account by slum dwellers has enhanced their saving habit, purchasing power and investment pattern, which helps them to increase their standard of living. The findings of the study have endorsed that nearly 47 female slum dwellers have opened BSBD account in banks, which shows the accomplishment of gender equity. Majority of the slum dwellers have been satisfied with financial inclusion products and banking services.