‘‘An Analysis Of Financial Inclusion Status In Greater Noida, Uttar Pradesh”

Abstract

In an economy like India which is expanding rapidly, the business environment needs to be transformed and increase the access of financial services to the lowest level of the society. The aim of this study is to analyze the financial literacy levels and status of financial inclusion in Greater Noida district of Uttar Pradesh. Financial inclusion can be measured based on three tangible and critical dimensions viz. Branch Penetration, Credit Penetration and Deposit Penetration. Research Paper aimed to analyze these dimensions and also assess the government's financial inclusion initiatives and the financial services offered by commercial banks.Research was done through studying literature review and analyzing the data collected from the various group of residents of Greater Noida. Study revealed that there is a significant disparity in consumers' perceptions of how satisfied they are with government schemes and financial services, which prevents financial inclusion from reaching its full potential. The higher economic level group, which is also more educated than the lower economic level group, finds it easier to open bank accounts as well as access other services, indicating that financial inclusion is significantly influenced by both economic status and educational attainment. Several suggestions are also made for improving the integration of commercial banks' financial services and financial inclusion initiatives