Exploring the impact of financial inclusion on the lives of green ration card holders

Today the term ‘bottom of the pyramid’ refers to the global poor most of who live in the developing countries. These large numbers of poor are required to be provided with much needed financial assistance in order to sail them out of their conditions of poverty. Accordingly, there is felt a need for policy support in channeling the financial resources towards the economic upliftment of the poor in any developing economy. Financial Inclusion is considered to be the core objective of many developing nations, since from the last decade, as many research findings correlate the direct link between the financial exclusion and the poverty prevailing in developing nations. Financial inclusion is an attempt to provide financial access and services to weaker sections and low income groups, thus eliminating poverty. An inclusive financial sector development makes two complementary contributions to poverty alleviation, one financial sector development is a driver of economic growth which indirectly reduces poverty, inequality and second appropriate affordable financial services for poor people can improve their welfare and help in social inclusion.

The study conducted covers aspects of financial inclusion related to the financial services and social inclusion of Green ration card holders. SPSS has been used for the analysis of the data. However the study has been conducted only in Saidapet area. A good and careful study on the above said aspects will benefit the financial service providers, users and the Government.