Asian Review of Social Sciences (ARSS)
Proposed Theoretical Measurement Model for Financial Inclusion with Perspective of Refuge InhabitantsAuthor : S. Sheik Abdullah, A. Krishna Kumar and B. Sheeba Pearline
Volume 7 No.1 January-June 2018 pp 21-25
Financial inclusion takes into account the participation of vulnerable groups such as weaker sections of the society and low income groups, based on the extent of their access to financial services such as savings and payment account, credit insurance, pensions etc. Also the objective of financial inclusion exercise is easy availability of financial services which allows maximum investment in business opportunities, education, save for retirement, insurance against risks by the rural individuals and firms. The penetration of financial services in the rural areas of India is still very low. The factors responsible for this condition can be looked at from both supply side and demand side and the major reason for low penetration of financial services is, probably, lack of supply. The reasons for low demand for financial services could be low income level, lack of financial literacy, other bank accounts in the family, etc. On the other hand, the supply side factors include no bank branch in the vicinity, lack of suitable products meeting the needs of the poor people, complex processes and language barriers. There is no studies conducted earlier especially financial inclusion initiatives with refugee inhabitants. Therefore this study was undertaken to propose the model of refugee inhabitants towards financial inclusion initiatives by the banks. The exhibited model consisting four essential factors, which are very useful for measuring financial inclusion practices.
Financial Inclusion, Refuge Inhabitants, Theoretical Model, EFA, CFA
 Agarwal and Parul, “Financial Inclusion in India: a Review and Initiatives and Achievements”, IOSR Journal of Business and Management, Vol. 16, June 2014.
 Carbo, S. Gardener, Edward, Philip, P.M. and Molyneux, Financial Exclusion, Palgrave Macmillan, 2007.
 K. C. Chakraborthy, Introductory Notes in Sameer Kochaar (Ed.) Speeding Financial Inclusion, New Delhi, Academic foundation, pp. 19-23, 2009.
 R. G. Clarke, Geroge, L. Colin Xu, and Heng-fu Zou. “Finance and Inequality: What Do the Data Tell Us?”, Southern Economic Journal Vol. 72, No. 3, pp. 578–96, 2006.
 K. Divya, “A Study On Impact Of Financial Inclusion With Reference To Daily Wage Earners”, Journal of Business Management & Social Sciences Research, Vol. 2, June 2014.
 Gupta and Sanjeev Kumar, “Financial Inclusion – IT as an enabler”, RBI Occasional Paper, Vol. 32, No. 2, 2011.
 M. Gomathy, “An Overview of Financial Inclusion and rural development in India”, IOSR Journal of Business and Management, Vol. 17, pp. 06-11, Aug. 2015.
 Government of India, “Committee on Financial Inclusion” (Chairman: Dr. C. Rangarajan), 2008.
 Michael Chibba, “Financial Inclusion, Poverty Reduction and the millennium Development Goals”, European Journal of Development Research, Vol. 21, April 2009.
N. Rao, “Financial Inclusion-Banker’s Perspective”, The Journal of Indian Institute of Banking & Finance (Bank Quest), Vol. 81, No. 4, pp. 20-26, October-December 2010.
R. Srikanth, “A Study on – Financial Inclusion – Role of Indian Banks in Reaching Out to the Unbanked and Backward Areas”, International Journal of Applied Research and Studies, Vol. 2, Sept. 2013.
Sameer Kochaar, Speeding Financial Inclusion, New Delhi, Academic foundation, 2009.