Financial inclusion: a demographic perspective

Financial inclusion or inclusive financing is the delivery of financial services at affordable costs to sections of disadvantaged and low-income segments of society, in contrast to financial exclusion where those services are not available or affordable. An estimated 2.5 billion working-age adults globally have no access to the types of formal financial services delivered by regulated financial institutions. The study aims to find out about the penetration of banking services in Ariyankuppam, Kalapet, and Veerampatnam village in Pondicherry region. Also the study examines the measures taken by the banks for improving the financial inclusion. For this convenience sampling is used and samples of 150 respondents are taken for the survey. Chi-square test is applied to find out the relationship between demographic factors and the financial inclusion product. The study revealed that there is significant relationship between the demographic factors and the financial inclusion product