A A COMPARATIVE STUDY OF AWARENESS AND UTILISATION OF GOVERNMENT FINANCIAL INCLUSION SCHEMES AMONG URBAN AND RURAL BENEFICIARIES

Abstract

Financial inclusion is now an important policy agenda item for achieving equitable economic growth and increasing access to formal financial services for all segments of society. The Government of India has initiated various financial inclusion policies to improve access to financial services and financial education, provide social security and promote economic empowerment. But their success relies heavily on the level of awareness of the target audience. The aim of this paper is to examine government financial inclusion schemes and compare the awareness of the schemes among urban and rural cardholders. The overall purpose of the research is to determine the level of awareness, compare urban and rural populations, and study the factors affecting the level of awareness. A descriptive and comparative research design was used, and primary data were collected by giving a structured questionnaire to the cardholders. Data were analyzed using statistical tools like percentage analysis, comparative tests and mean scores. The results will likely show a marked difference in awareness among urban and rural cardholders, which might stem from varying education, information and access, banking outreach and socioeconomic situations. The study adds to the body of knowledge on financial inclusion initiatives and calls for specific awareness campaigns to boost the use of government schemes. The findings can help inform policies, financial institutions and government decisions to improve financial literacy and inclusive financial development in both urban and rural areas.