JEEVIKA- a study on financial literacy in Sawai Madhopur, Rajasthan through financial inclusion program
Student name: Ms Panchali Sharma
Guide: Dr Sapna Narula
Year of completion: 2016
Host Organisation: Access Development Services
Supervisor (Host Organisation): Mr Raja Banerjee
Abstract: This study attempts to assess the process of financial literacy and its diffusion in the different clusters of Sawai Madhopur, Rajasthan. Financial inclusion has become the buzzword over the twentieth century and has caught the attention of research scholars, policy makers and economists. It is indeed a matter of serious concern that despite tremendous growth of banking sector in India—both horizontally and vertically, a large section of Indian population continues to remain unbanked even after attaining 67 years of our Independence. Despite making significant improvements in the areas of financial viability, profitability and competitiveness, there are concerns that bank have not been able to include vast segment of the population, especially the underprivileged sections of the society, into the fold of basic banking services. Jeevika looks forward to build capacity of community-based institutions that deliver relevant financial and livelihood services to the poor and unreached households. This paper attempts to assess the existing financial literacy status of the population and the diffusion of financial inclusion program among the people. The financial literacy level shall be studied through a cross-cutting analysis from various financial literacy centers, assessing their common challenges and opportunities. For the purpose of the study, several key informants have been interviewed such as financial counselor, individual women, also different SHG’s group and their president. A structured questionnaire developed by GIZ is also used to collect household data. The informants have been selected through purposive sampling and the findings are purely qualitative and qualitative in nature and also have used a case-study approach. There are several existing gaps among the underserved people and the financial inclusion program. Without proper knowledge and awareness of various financial inclusion program initiated by the government, the benefits that are ought to reach the poor masses becomes non- effective.
Keywords: Financial Inclusion Program, Financial Literacy, Government Schemes, Sawai Madhopur.
