The extent of financial inclusion in Adilabad district, Telengana

As the World is transforming into a Globalvillage, having free flow of goods, services, information and people, it has become necessary to stand on global footprint in the area of Financial Inclusion too. Financial Inclusion ensures timely and efficiently delivery of financial services and benefits of the government to the deprived sections of the society, at large mainly the low income earning group, landless farmers, etc. This study was conducted in 3 villages in Adilabad District, Telengana with the objective of measuring the extent of Financial Inclusion, impact of PMJDY, using the support services of the banks, and internet banking in that area. The results of the study found that though 95% of the population had bank accounts 75% of them do not use the banks for taking loans and are not aware of internet banking. Of the 95%, 70% of them have opened the bank accounts during the PMJDY and the youth among the sample population prefer using the Rupay and Debit card. The older population does not favour ATM services and believes in Traditional branch banking.