05.12.12 Access to Financial Services: Are Poor Excluded?
A Case Study of India
NUPI-notat 808 | 22 sider.
While access to financial resources is critical for the very survival of the self employed poor in adeveloping country like India, this paper shows that the poor often depend on informal lenders with unfavourable terms and conditions.
>> Summary
The present analysis utilizes unit level NSSO data (59th round, All India Debt and Investment Survey, 2003) to highlights some of the lacunas of current financial services provided by the formal banks in India, which is the major purveyor of credit in India. While the NSSO data set provides substantial information regarding household debt and investment for about 1, 43,285 households in India, covering both rural and urban areas, there has been limited number of studies that came up with rigorous analysis of this data. In an attempt to fill this gap, the current research paper also brings to light the challenges to the formal banking sector in India in reaching out to the poor, socially backward and weaker sections of the society.
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