Impact of Banking Services on Social Enhancement of Rural People in Kanniyakumari District

Author: Indu, P.V., Geetha, P

Abstract:
Banks are the most crucial part of the financial system of a country. Banking in India plays a vital role because a vast majority of the population resides in villages, and banks are one of the primary sources of meeting their financial needs. Since villages are considered the backbone of the nation, the improved socio-economic status of the rural population is vital to the development of the country. Through various efforts that the government and other policy makers had taken, some people remained outside the purview of the formal banking system. However, the financial inclusion program has brought a tremendous change in this situation. Today, most people are making use of the various banking facilities available. In that context, the researcher tries to throw some light up on the impact of banking services on rural people in the study area through this study. The researcher here aims at analyzing if the utilization of banking services has enhanced the lives of rural people in society. The study concludes with the finding that banking services impact rural lives; however, the impact is minimal and needs more focus to bring a considerable positive change in the lives of rural populations.

Keywords:Enhancement, Impact, Lifestyle, Empowerment, Social

DOI:

International Journal of Trade & Commerce (Vol: 10 Issue:1)