International Journal of Education and Management Studies

Ankita Sharma ¹, Sunita Mehla ¹, Suman Ghalawat ¹, Jitender Kumar Bhatia ², Nitin Bhardwaj ³

Affiliations
1 Department of Business Management, CCS Haryana Agricultural University, Hisar, Haryana, IN
2 Directorate of Human Resource Management, CCS Haryana Agricultural University, Hisar, Haryana, IN
3 Department of Mathematics & Statistics, CCS Haryana Agricultural University, Hisar, Haryana, IN

Abstract

Financial inclusion is one of the important aspects to increase the financial growth of an economy. It is one of the oldest concepts in Indian history. Earlier, informal key players such as money lenders, brokers, etc. used to give credit to the farmers for the inputs required for the production of crops. But in today's scenario, the situation has changed a lot. Formal financial institutions especially banks have taken the pace for lending money to each and every section of the society. For the inclusion of the poor and economically backward sections, the government of India with the help of banks has launched various schemes. Knowing the status of financial parameters in the economy from time to time is also important so that the amendments can be considered for raising the status of financial inclusion. For the present study, one important parameter viz. savings in the accounts of respondents was considered to recognize the status of savings in the study area. The study was undertaken in the Hisar and Kaithal districts of Haryana. Binary logistic regression as a tool was performed to examine the impact of socio-economic variables on the undertaken parameter among the selected sample of households in both the districts. The results concluded that a rise in income and employment level will increase the savings in the accounts of bank account holders of the study areas.

Keywords

financial inclusion, rural households, savings, logistic regression, socio-economic variables.

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