* Associate Professor, Department of Economic Administration and Financial Management, University of Rajasthan, Jaipur
** Research Scholar, Department of Economic Administration and Financial Management, University of Rajasthan, Jaipur
*** Professor, Department of Economic Administration and Financial Management, University of Rajasthan, Jaipur
Online published on 13 May, 2016.
Urban India is construed as the frontrunner in terms of basic financial services in the country with presence of branches of invariably all forms of banking and other financial service providers. But, the question arises as to the extent such services are being actually, actively and beneficially utilized by the urban poor.
The study analyzes the level of awareness of the available financial services options among the household workers in the city of Jaipur; and measures the relationship between literacy levels and the usage of organized financial services. It also tries to unearth the demand side requirements of the target population with respect to their financial needs and to find out whether the financial services are reaching the low income groups and thereby impactingtheir saving habits, and standard of living.
It is based on both primary as well as secondary data. In order to come upon a concrete conclusion various analysis tools like percentage, cross-tabulation as well as Carl Pearson's correlation analysis has been done.
At the end it has been concluded that the dream of complete financial inclusion cannot be fulfilled until and unless a mass awareness drive is launched to educate the target masses about the availability and usage of such services. The banks also need to provide tailor-made/needbased product offerings in order to bring the unbanked population in the urban areas.
Financial inclusion, financial exclusion, financial services and products, usage
