Branchless Banking an Effective Device Towards Financial Inclusion: A Study Conducted at Bangalore Rural District

Abstract

In order to achieve greater financial inclusion in India, and at the same time to bridge the gap between demand and supply of financial service delivery in unbanked areas the Reserve Bank of India, based on the recommendations of the Khan Committee report proposed Business Correspondent model in the year 2006. The present study was conducted to know the awareness level of the services provided by business correspondent model among the rural poor and the challenges faced while availing those services. Using random sampling method data was collected from 315 respondents availing the services of business correspondent model from all four blocks of Bangalore rural district. The primary data was collected using interview schedule and statistical tools like simple percentage and Friedman rank test were used for analysing the primary data. Most of the respondents were aware of the services provided by BC’s was the major finding of the study.