Socio Economic Impact Of Financial Inclusion A Study of Uttar Pradesh

Abstract

The term financial inclusion is not new in India. We, the people of India, have come across this term and its process since 1956 when the nationalization took place for the LIC of India. This started the process of financial inclusion, and it continued with the nationalization of various banks in India in 1969 and 1980, respectively. Other insurance companies, particularly general insurance companies were gone through nationalization in 1972. These all steps by the government are taken for financial inclusion. newline Therefore, this study would be analyzing the various awareness level among people towards various financial inclusion services, to examine the current status of various financial inclusion services status, to assess the impact of financial inclusion services on the social-economic empowerment status of the society and also measure the various problems which are facing by people in getting the financial inclusion service in Uttar Pradesh. newline This research study described the following: the design of the study, source of the study, research objectives of the study, elaborates the research model, and outlines the operationalization of variables and hypotheses setting, describes the development of the research instrument. Under this study research objectives are as following: newlineTo measure the awareness level among peoples towards various financial inclusion services, To examined the current status of financial inclusion in India., newlineTo assess the impact of financial inclusion on the socio-economic status of beneficiary, newlineTo study the various problems faced by peoples towards financial inclusion, newlineTo provide the suggestion to enhance the socio-economic status of beneficiary through various financial inclusion services. newlineThis study concluded that the government focuses on providing financial inclusion services to the society. However, still, people are f acing a lot of problems in getting the benefits of financial services, such financial inclusion scheme provide low-interest rate. Finally, based on the above findings and conclusion, this study provides the various suggestions mentioned below with the objectives of financial inclusion growth status can increase in the country. newline newline