Financial inclusion of ST wage seekers of Jharkhand in Mahatma Gandhi national rural employment guarantee scheme^#

The present study was undertaken in the districts of Ranchi and Simdega of Jharkhand state with sample size of 400 ST workers those who had completed more than 100 days works in Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) either in the financial year 2009–10 or 2010–11 to know the operations of account by the workers and the perceptions of MGNREGS, bank and post office officials towards the financial inclusion of ST wage seekers. It was found that maximum number (90.75 per cent) of respondents withdrew money from their account within first week of the deposit followed by 8.25 per cent and one per cent within one to two weeks and after two weeks, respectively. Very high percentage of accounts (84.25) were found having very less amount i.e. Rs.0 to 100 of deposit and only 13.75 percent of the respondents’ accounts were found having more than Rs.200 at the time of investigation. It was also found that none of the accounts has earned any interest on deposit. The perceptions of Programme Officers of block, PRI members and Panchayat Secretary of Gram Panchayat, Gram Rozgar Sewak (GRS) of village, bank officers and post masters of the area towards the financial inclusion of ST wage seekers were found to be negative. It is now required the proactive participation of financial institutions to facilitate the process of extending different financial services to the weaker, poor and vulnerable section of the society to achieve inclusive growth through financial inclusion.