Financial services technology adoption by agricultural labour households in Punjab

Accessibility to financial services at an affordable cost for the low income sections of society is vital in uplifting their status. The study aimed to find the extent of usage of financial services among the agricultural labour households in Punjab. A sample of hundred households was selected through multi-stage random sampling technique. It was found that all the sampled households were financially included in terms of having a bank account. But, the proportion of operational accounts was 47 per cent and 83 per cent of accounts were opened under different state directed programs like MGNREGS, pensions and LPG subsidies etc. Income and family size emerged as significant determinants of opening bank accounts, while, education along with income and family size were positively correlated with number of operational accounts held by a household.