52
7. 47 % respondents having bank accounts availed direct benefits of LPG Subsidy and 7 % of sample
respondents having bank accounts were receiving old age Pension directly in their accounts.
8. The sample respondents having bank account did on an average transaction of Rs. 10,117 per a/c
during 2015-16.
9. 86 % respondents having bank account availed insurance under PMSBY and 52 % of these also had
vehicle insurance.
10. The 14 % respondents having bank account did not avail any type of insurance because most of them
found it too expensive.
11. 56 % respondents were aware about details such as eligibility, premium, sum assured, etc. under
PMSBY. During survey, it was also observed that all the people were satisfied with the auto debit
Mode of Payment.
12. 41 % respondents having bank account availed PMJJY and 71 % of these were fully aware about the
scheme.
13. 12 % respondents having bank account availed APY which indicate that coverage of APY was not
satisfactory. Bank branches were the main source of information about the scheme among sample
respondents.
Major Recommendations:
1. Government of India alongwith StateGovernments and banks should strive to createmore awareness
about financial inclusion at grass root level. The details of these schemes may be included in school
and colleges curriculum. More Financial Literacy and Credit Counselling Centre may be opened and
strengthened.
2. To spread banking services in remote and far flung area ICT basedmobile app, etc. may be developed.
The use of these technologies can reduce transactions and other administrative cost to a great extent.
3. The coverage of Atal Pension Yojana is not satisfactory. The main reasons behind it as per feedback
received from field a). People were not aware about the scheme, b) The low amount of pension after
attaining age of 60 years. So, the more awareness camps/ programmes may be conducted to increase
the awareness level at ground level.
4. No target was given to co-operative banks under PMJDY. Now, the Cooperative Banks are fully on
CBS platform these banks may be involved in financial inclusion drive.
5. Private sector may be involved in process of financial inclusion awareness drive under corporate
social responsibility.
6. Regular capacity building programmes for Business Correspondents may be conducted. Their
remuneration and other facilities such as travel, etc should be reasonable to retain them in the
banking fold.
7. Only 8 % respondents having bank accounts were issued RuPay Card. There are lot of benefit of
having Rupay Cards so more awareness may be created at ground level and more numbers of cards
should be issued to account holders.
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