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“An Evaluation of Financial Inclusion Activities of Banks in Kerala” - with Special Focus on Malabar Area

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“An Evaluation of Financial Inclusion Activities of Banks in Kerala” - with Special Focus on Malabar Area “AN EVALUATION OF FINANCIAL INCLUSION ACTIVITIES OF BANKS IN KERALA” - WITH SPECIAL FOCUS ON MALABAR AREA Minor Research Project Report Submitted to the University Grants Commission, New Delhi In partial fulfillment of the requirements for the Completion of Minor Research Project By SUBEESH V.K. Assistant Professor POST GRADUATE DEPARTMENT OF COMMERCE SARBTM GOVT. COLLEGE, KOYILANDY KOZHIKODE DECLARATION I hereby declare that this project report entitled “AN EVALUATION OF FINANCIAL INCLUSION ACTIVITIES OF BANKS IN KERALA” - WITH SPECIAL FOCUS ON MALABAR AREA” is a bonafide work done by me under UGC-Minor Research Project. I further declare that this report contains no material which has been accepted for the award of any other degree or diploma of any University or Institution and to the best of my knowledge and belief, it contains no material previously published by any other person, except where due references are made in the text of the report. Koyilandy June 30, 2018 SUBEESH V. K. CERTIFICATE This is to certify that the Minor Research Project titled “AN EVALUATION OF FINANCIAL INCLUSION ACTIVITIES OF BANKS IN KERALA” - WITH SPECIAL FOCUS ON MALABAR AREA” is an original work done by Mr. SUBEESH V.K, Asst. Professor, Dept. of Commerce, SARBTM Govt. College, Koyilandy. He is permitted to submit the report to University Grants Commission. Place : Muchukunnu Date : PRINCIPAL CERTIFICATE This is to certify that the work reported in this thesis entitled “AN EVALUATION OF FINANCIAL INCLUSION ACTIVITIES OF BANKS IN KERALA” - WITH SPECIAL FOCUS ON MALABAR AREA” submitted to the University Grants Commission, under the Under the Minor Research Project (MRP) by Mr. Subeesh V.K. has been posted to the website of SARBTM Govt. College, Koyilandy. ANOOP K. MATHEW CO-ORDINATOR, IQAC SARBTM GOVT. COLLEGE, KOYILANDY Acknowledgements This research report owes its existence to the help, support and inspiration of several people. First of all, I express my whole-hearted and sincere gratitude to the University Grants Commission for giving me an opportunity to carry out this minor research project. I express my sincere thanks to Dr. K. Krishnankutty, Principal, SARBTM Govt. College, Koyilandy for his support and inspirations to submit this report. I am thankful to Dr. A.K. Abdul Gafoor, Former Principal SARBTM Govt. College, Koyilandy for his kind support and inspiration throughout the research work. I express my deep gratitude to Dr. M. A. Joseph, Professor, Department of Commerce and Management Studies, University of Calicut, for his scholarly guidance. His support and inspiring suggestions have been precious for preparation of this research report. I am thankful to Mr. Sandeep P.V, Head of the Department of Commerec, SARBTM Govt. College, Koyilandy for his creative suggestions. I am thankful to Mr Shaji C.V. and all other faculty members of the Department of Commerce, SARBTM Govt. College, Koyilandy for their co-operation and inspiration which greatly helped me in successfully completing this work. I thank the members of the non-teaching staff of the College for the help extended to me. Also I thank the Mr. Anoop K. Mathew, Coordinator IQAC, SARBTM Govt. College Koyilandy for the help extended to me during this research.. I have immense pleasure to express my sincere gratitude to Dr. Subeesh M.M. Higher Secondary School Teacher, GHSS Avidanallur, for his invaluable assistance in the analysis of primary data. I express my profound gratitude to Mr. Benny, Manager, Bank of India for the help and support extended to me during this research. I express my sincere thanks to Mr. Ajayakumar K, Librarian, SARBTM Govt. College, Koyilandyfor the help and support extended to me during this research. I place on record my sincere thanks to the librarians of the, C.H.M.K. Library, University of Calicut and Indian Institute of Management Kozhikode. I will be failing in my duty, if I do not express my gratitude to my family for their enormous support. I express my deepest gratitude to my father Sri. Sami V.K. mother Smt. Saradha V.K. for their unflagging love and unconditional support throughout my life and my studies. My study would not have been completed successfully if not for the academic and moral support given to me by my beloved wife, Ms. Liya K. I also thank my son Neerav Nandan for his patient cooperation. I also thank my parents-in-law for the encouragement and support they have given to me throughout the course of my research work. I express my sincere thanks to Mr. Balu of M/s Bina Photostat, Calicut University Campus, who executed the editing, printing and binding work of this thesis neatly and promptly. Above all, I place my fervent indebtedness to God Almighty for His bountiful blessings. Subeesh V. K. CONTENTS Chapter No. Particulars Page No. CHAPTER 1 INTRODUCTION 1 - 14 1.1. Introduction 1.2. The Research Problem 1.3. Interdisciplinary relevance of the study 1.4. Scope and significance of the study 1.5. Objectives of the study 1.6. Research methodology 1.7. Study Variables 1.8. Reliability Analysis 1.9. Hypothesis 1.10. Period of Study 1.11. Limitations of the study 1.12. Scheme of Chapters CHAPTER 2 REVIEW OF LITERATURE AND 15 - 25 RESEARCH GAP 2.1. Introduction 2.2. Research Gap 2.3. Conclusion CHAPTER 3 THEORETICAL OVERVIEW OF 26 - 70 FINANCIAL INCLUSION 3.1. Introduction 3.2. Concept of financial inclusion 3.3. Definition of financial inclusion 3.4. Objectives of financial inclusion 3.5. Dimensions of financial inclusion 3.6. Benefits of financial inclusion 3.7. History of financial inclusion 3.8. Profitable models of financial inclusion 3.9. Financial Inclusion in India 3.10. Financial Inclusion-RBI Policy Initiatives 3.11. NABARD and financial inclusion 3.12. Banks and Financial Inclusion Chapter No. Particulars Page No. 3.13 World Bank and Financial Inclusion 3.15. Conclusion CHAPTER 4 DATA ANALYSIS AND 71 - 114 INTERPRETATIONS 4.1. Introduction 4.2. Profile of the respondents 4.3. Banking habits of the respondents 4.4. Level of awareness about banking products and Services 4.5. Level of satisfaction about banking services 4.6. Present status of financial inclusion in Kerala 4.7. Conclusion CHAPTER 5 FINDINGS SUGGESTIONS AND 115 - 126 CONCLUSION 5.1. Introduction 5.2. Findings 5.2.1 Banking Habits of people in Kerala 5.2.2. Level of awareness about banking products 5.2.3. Level of satisfaction about banking services 5.2.4. Present status of financial inclusion in Kerala 5.3. Result of Test of Hypothesis 5.4. Policy Recommendations 5.5. Conclusion REFERENCES 127 - 134 ANNEXURES LIST OF TABLES Table Page Title No. No. 1.1 Reliability statistics 10 4.1 District wise selection of sample respondents 72 4.2 Age wise distribution of respondents 73 4.3 Marital status wise distribution of respondents 74 4.4 Religion wise distribution of respondents 74 4.5 Educational qualifications of respondents 75 4.6 Occupation wise classification of respondents 76 4.7 Classification of the respondents based on area of residence 77 4.8 Classification of the respondents based on economic status 77 4. 9 Classification of the respondents based on Annual Income 78 4.10 Number of respondents with bank account 79 4.11 Reason for not having bank account 80 4.12 Holding of Multiple bank account 81 4.13 Category of bank in which account is maintained 81 4.14 Level of awareness about no frill account 82 4.15 Scoring Key for measuring Awareness level 83 District wise mean distribution of Awareness level of no- 4.16 83 frills account 4.17 Result of ANOVA Test 84 District and Awareness about no-frills account - Post Hoc 4.18 84 ANOVA 4.19 Result of independent sample t-test 85 Education wise mean distribution of Awareness level of no- 4.20 86 frills account 4.21 Result of ANOVA Test 86 4.22 Result of independent sample t-test 87 4.23 Sources of information about no frills account 87 Table Page Title No. No. 4.24 No. of years having bank account 88 4.25 Frequency of visiting Bank in a month 89 Result of Chi-square test and District Wise Frequency of 4.26 90 bank visit 4.27 Area Wise frequency of bank visit 91 4.28 Purpose of visiting Bank 92 4.29 Reason for opening bank account 93 Cross tabulation of Source from which loan is availed and 4.30 94 reason 4.31 Type of Loan availed 94 4.32 Scoring Key for measuring awareness level 95 4.33 Level of awareness about deposit accounts 96 4.34 Level of awareness about interest on Deposit accounts 96 4.35 Level of awareness about Loan accounts 97 4.36 Level of awareness about Interest on Loan accounts 98 4.37 Level of awareness about Various Banking Services 99 Result of ANOVA District and Awareness about banking 4.38 100 products 4.39 District and Level of Awareness- Post Hoc ANOVA 100 Result of t-test. Gender and Awareness level about banking 4.40 101 products 4.41 Result of t-test. Area and Awareness level 102 4.42 Scoring Key for measuring satisfaction level 103 4.43 Level of satisfaction about Banking Services 104 4.44 Result of ANOVA Test 105 District and Level of Satisfaction about Banking Service- 4.45 105 Post Hoc ANOVA (Tukey HSD) 4.46 Result of t-test Gender and Level of satisfaction 106 4.47 Result of independent sample t-test 107 4.48 No. of Bank branches in Kerala 108 Table Page Title No. No. 4.49 Progress Under Kisan Credit Card Scheme (KCC) 110 4.50 Status of Pradhan Mantri Jan-Dhan Yojana Accounts 111 4.51 FLCC Centres in Kerala as on June 2016 112 4.52 No.
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