A comprehensive reach of financial inclusion by ICT: an investigation in select districts of Tamil Nadu

Sundaram, N., Srinam, M., and Kannaiah, Desti (2016) A comprehensive reach of financial inclusion by ICT: an investigation in select districts of Tamil Nadu. International Journal of Applied Engineering Research, 11 (1). 54. pp. 353-358.

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Abstract

This study empirically investigates the role of Information and Communication Technology to achieve financial inclusion in economically most backward districts of Tamil Nadu, India, which comprises four districts namely Cuddalore, Nagapattinam, Tiruvannamalai and Villupuram. This study took technology based financial inclusion in banking sector such as mobile banking, internet banking, Automated Teller Machine, Financial Service Kiosk, National Electronic Funds Transfer, Real-time gross settlement systems and Immediate Payment Service to know its frequency of usage through multiple regression analysis. Further study was undergone to identify the factors affecting the access and reasons for hesitation towards access. It is found that Automated Teller Machine is frequently used by 48.9% of the respondents. Real-Time Gross Settlement and Immediate Payment Systems are found unused by much respondents. In case of hesitance, irrelevant banking products are the factor selected by 30% respondents (out of 103). Financial illiteracy and lack of frequent income are the major factors identified for not using technology. This study suggests the banks to expand its service by opening bank account with information and communication technology and bank account holders should come forward to know technology based financial inclusion to transform traditional financial system and speedy reach of financial inclusion in this decade.

Item ID: 47677
Item Type: Article (Scholarly Work)
ISSN: 0973-4562
Date Deposited: 22 Jun 2017 08:05
FoR Codes: 15 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 1502 Banking, Finance and Investment > 150299 Banking, Finance and Investment not elsewhere classified @ 50%
15 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 1504 Commercial Services > 150499 Commercial Services not elsewhere classified @ 50%
SEO Codes: 91 ECONOMIC FRAMEWORK > 9199 Other Economic Framework > 919999 Economic Framework not elsewhere classified @ 50%
90 COMMERCIAL SERVICES AND TOURISM > 9099 Other Commercial Services and Tourism > 909999 Commercial Services and Tourism not elsewhere classified @ 50%
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