data analysis on financial inclusion
Content
1) Do you have a Bank Account?
Have a Bank Account Yes No Total Number of respondent 192 8 200 % of respondent 96 4 100
Table 1
% of respondents having a bank account
Yes 4% No
96%
Interpretation
From the above graph we can see that 96% of the respondents have a bank account and rest of the respondents are financially exclusive means they don’t have a bank account.
1a) Reasons for not having a bank account.
Reasons For Not Having a Bank No. Of % of respondents Account Respondents No point benefit to receive in cash No point benefit to receive in cash No point benefit to receive in cash No point benefit to receive in cash No point benefit to receive in cash No point benefit to receive in cash No point benefit to receive in cash Total 0 3 1 3 1 0 0 0 37.5 12.5 37.5 12.5 0 0
8
100
Table 2
0%
Reasons For Not Having a Bank Account
0% 13% 0% 37%
No point benefit to receive in cash Documentation Requirements Tried to open but was refused
38% 12%
Don't have money
Lack of ATM facility
Interpretation
The above graph presents that 37% of respondents who don’t have a bank account facing a problem of documentation requirements ,38% of respondents don’t have money to open a bank account,12% of respondents have tried to open but they were refused and 13% of respondents don’t want to open a bank account because of lack of ATM facility.
1b) Reasons for opening the Bank Account.
Reasons for having a No. Of Respondents Bank Account For saving money For receive payments To request a loan For receiving remmitance Other For saving money Total 184 43 25 0 0 184 73.02 17.06 9.92 0.00 0.00 73.02 % Of Respondents
252
100.00
Table 3
Reasons For Having a Bank Account
0% 0% 10% 17%
For saving money For receive payments To request a loan For receiving remmitance Other
73%
Interpretation
The above graph explains that more than half of the above respondents open bank account for saving money.The 17% and 10% of the respondents open a bank account for receiving payments and request a loan respectively.None of them are interested to open a bank account for the purpose of receiving remmitance.
2) Which type of bank account do you have?
Type Of Bank Account Saving Bank Account Current Account Recurring Deposit Acount Fixed Deposit Account Other TOTAL No. Of Respondents 151 9 27 66 0 253 % Of Respondents 59.68 3.56 10.67 26.09 0.00 100.00
Table4 Type Of Bank Account
Saving Bank Account Current Account Recurring Deposit Acount Fixed Deposit Account
0% 26% 11% 60%
3%
Interpretation
The above graph represents that 60% of respondents have a saving bank account.26% and 11% of the respondents have a recurring deposit account and Fixed deposit account respectively.Only 3% of the peolple have a current aaccount.
3) Are you using any form of financial services or products?
Use Of Financial Services Yes No TOTAL No. Of Respondents 185 7 192 % Of Respondents 96.35 3.65 100.00
Table 5
RESPONDENT USING FINANCIAL SERVICES
Yes
4%
No
96%
Interpretation
The above graph shows that 96% of respondents in Anand city uses a financial services and rest of the respondents don’t use the financial services for a particular reasons.
4) What kind of financial services or products you use?
Kind Of Financial Services Banking Facility Loan Facility Insurance ATM Mobile Banking Net Banking TOTAL
No. Of Respondents 60 110 128 150 42 33 523
% Of Respondents 11.47 21.03 24.47 28.68 8.03 6.31 100.00
Table 6 USE OF FINANCIAL SERVICES
6% 11%
8%
Banking Facility
21%
Loan Facility Insurance ATM
29%
25%
Mobile Banking Net Banking
Interpretation
From the above graph we can see that 29 % of respondents use ATM.25% and 21% of the respondents use Insurance and Loan facility respectively.The minority of the respondents in Anand city use banking facility,mobile banking and net banking.These all three services have low portion in the total financial services.
5) Have you or your family ever borrowed or take a loan from a Bank?
Borrowed Or Take A Loan No. Of Respondents From a Bank Yes No
TOTAL
% of Respondents
128 57
185
69.19 30.81
100.00
Table7 RESPONDENT TAKING LOAN FROM A BANK
31%
Yes
69%
No
Interpretation
The majority of the respondents in Anand city take a loan from the bank for various purposes.31% of the respondents don’t have any interest in taking loan or borrowed from the bank.
5a) What are the Reasons for borrowing?
Reasons for borrowing Agriculture purpose Education purpose Marriage purpose Home purpose Vehicle purpose Other(Business Purpose) TOTAL No. Of Respondents 18 9 2 34 57 8 128 % Of Respondents 14.06 7.03 1.56 26.56 44.53 6.25 100.00
Table8 REASONS FOR BORROWING
Agriculture purpose
6% 14% 7% 44% 27% 2%
Education purpose Marriage purpose Home purpose
Vehicle purpose
Interpretation
The 44% of the respondents borrowed for thepurpose of purchasing vechicles from the bank.The 27% and 14 % of the respondents take a loan for home purpose and agriculure purpose respectively.Less than 10 % of the respondents like to borrowed for the purpose of business and education.respondents in anand city are less likely to take a loan from the bank for marriage purpose.
6) If loan was available what difficulties have you faced in the process?
Obstacles In The No. Of Respondents % Of Respondents Process Of Loan Documentation Loan sanctioning Time consuming Interest rate consulting services Total 77 33 13 29 2 154 50 21.43 8.44 18.83 1.30 100
Table 9 OBSTACLES IN THE PROCESS OF LOAN
1% 19%
Documentation
9% 50%
Loan sanctioning
Time consuming Interest rate consulting services
21%
Interpretation
The above graph states the obstacles that respondents face in the process of availing the loan.Half of the respondents who availed the loan facilityb bear a problem of documentation.21% of the respondents in anand city face a problem
of delay in loan sanctioning procedure.19 % of the respondents feel difficulty in interest rates.Less than 10 % of the respondents are concerned about the time consumption in the loan sanctioning process.
7) From which sources you get to know about financial services?
Sources Of Financial Services No. Respondents Newspaper TV advertisements Hoarding Friends/Relatives Bank financial advisor/consultant Others(Internet) Total Of % Of Resondents
27 16 4 36 127 13 1
224
12.05 7.14 1.79 16.07 56.70 5.80 0.45
100
Table9
Sources Of Financial Services
Newspaper
0.5% 6% 12% 7% 2%
TV advertisements Hoarding
16%
57%
Friends/Relatives
Bank
financial advisor/consultant
Others(Internet)
Interpretation
From the above graph we can see that bank is the main sources of financial awareness.16% of the respondents come to know about the financial services from the newspapers.Tv advertisements is the main source of financial awareness for 12 % of the respondents.The rest of the respondents come to know about the financial services from the Internet,financial
advisor,friends/relatives and Hoardings.
8) Which is the most easily accessible financial service?
Financial Services Banking Facility Loan Facility Insurance ATM Mobile Banking Net Banking Total No. Of Respondents 9 3 28 138 4 3 185 % Of Respondents 4.86 1.62 15.14 74.59 2.16 1.62 100
Table 10
THE MOST EASILY ACCESSIBLE FINANCIAL SERVICE
2% 2% 5% 15% 2%
Banking Facility Loan Facility Insurance
ATM
74%
Mobile Banking Net Banking
Interpretation
The above graph shows that ATM is the most easily accessible financial service.As per the 15 % of the respondents,Insurance is the most easily accessible financial service.Banking facility is easy to access for 5 % of the respondents in Anand city.Less than 5 % of the respondents believe that Loan facility,Net banking and Mobile banking are easy to access.
9) In the last 2 years have you been refused any of the above financial services?
Refused Service Yes No Total 32 168 200 16 84 100 a Financial No. Of Respondents % Of Respondents
Table 11
% OF RESPONDENTS REFUSED A FINANCIAL SERVICE
16%
Yes
No
84%
INTERPRETATION
16 % of the respondents have refused for financial services in the last two years for a particular reason.84 % of the respondents have not been refused for any of the financial service in the last two years.
9a) If Yes,what is the reason for rejecting that financial service? Reasons for rejecting a No. Of Respondents Financial Services lower security Don't have money Fear of security Lack of proper services Not necessary Don't have time Total 5 7 4 1 9 6 32 15.63 21.88 12.50 3.13 28.13 18.75 100 % Of respondents
Table 12
REASONS FOR REJECTING FINANCIAL SERVICES
19%
16%
lower security Don't have money
22%
Fear of security Lack of proper services Not necessary
28% 3% 12%
Don't have time
INTERPRETATION
The above graph presents that lower security is the main reason for rejecting a financial services for 28 5 of the respondents in Anand city.22 % of the respondents don’t have money to use a financial service. 19 % of the respondents don’t have time to use a financial services.16 % of the respondents
believe that financial services are not necessary for them.3% of the respondents take lack of proper services as a reason for rejecting financial services. 10 ) What are the financial services yet not available in your city? Financial Services Wealth services Demat account KCCs TOTAL Total management 120 55 10 185 185 64.86 29.73 5.41 100.00 100 No. Of Respondents % Of respondents
Table 13
NON-AVAILABILITY OF FINANCIAL SERVICES Wealth management services
5% 30%
Demat account KCCs
65%
INTERPETATION
The above graph describes that 65 % of the believes that wealth management service is not available in their city.30 % of respondents in Anand city believes
that Demat account facility is not available in their city.According to 5 % of the respondents,KCCS is not available in their city.
11) What is the level of satisfaction after using any of the financial services?
Financial services
Highly Satisafied
Satisfied
Moderate
Dissat isfied
Highly Dissati sfied
Total
Insurance ATM Net Banking Banking Facility
81 101 18
37 36 8
10 11 6
0 2 2
0 0 0
128 150 34
29
24
6
1
0
60
Loan facility 9 Mobile Banking 18
48 19
30 4
21 1
1 0
109 42
Table 14
Level Of Satisfaction After Using Financial Services
120 101 100 81 80 60 40 20 0 Highly satisfied Satisfied Moderate Dissatisfied Highly Dissatisfied 37 10 0 Insuranc e 81 37 10 0 0 36 11 2 ATM 101 36 11 2 0 18 86 29 24 2 6 1 9 Loan facility 9 48 30 21 1 48 30 21 19 18 41 Mobile Banking 18 19 4 1 0
Net Banking 18 8 6 2 0
Banking Facility 29 24 6 1 0
Interpretation
The above graph shows that Highest number of respondents are highly satisfied by using ATM .81 respondents are highly satisfied with Insuarance.29 respondents are highly satisfied by using Banking Facility.The same number of respondents that is 18 respondents are highly satisfied with Mobile Banking and Net Banking.Only 9 respondents are highly satisfied with loan facility.The highest number of respondents are satisfied with loan facility.The same number of respondents are satisfied with ATM and Insurance facility.The less number of respondents that is 8 responedents are satisfied with net banking.30 respondents are of moderate view for loan facility.None of respondents are dissatisfied and highly dissatisfied with insurance.The highest number of respondents are dissatisfied with loan facility.
12) Do you thinking that Government,Local Bodies or Banks need to improve a lot in providing financial services? Particulars Yes No TOTAL No. Of Respondents 44 149 193 % Of Respondents 22.80 77.20 100.00
Table 15
Government Need To Improve A lot In Providing Financial Services
23%
Yes 77% No
Interpretation
77 % of respondents think that Government,Local Bodies and Bank need to improve a lot in providing financial services.23 % of the respondents think inversely means they do think that Government,Local bodies and Bank do enough to increase a financial inclusion.
13)If yes,Give Any suggestion.
Suggestions No. Of % Of
Responden Respondents ts Loan should be given on the basis of business Should provide proper and fast srvices Bank make loan procedure faster Government should decrease the rate of interest on loan Government and bank should try to open more branches in rural area Bank should decrease the waiting period for customer Bank should appoint more customer representatives Government should provide more
1 6 10 9 4 2 2 1 5 1 3 44
2.27 13.64 22.73 20.45 9.09 4.55 4.55 2.27 11.36 2.27 6.82 100
financial services in rural area Provide higher security Government should increase financial literacy Bank should increase the rate interest on FD and Saving Bank Account Total
Table 16 Suggestions To Improve financial Inclusion
No. Of Respondents
10 10 9 8 7 6 5 4 3 2 1 0 9 6 5 4 3 2 1 2 1 1
Suggestions
INTERPRETATION
10 respondents are of the opinion that Loan procedure should make fast to increase financial inclusion.9 respondents suggests that Bank should decrease the interest on loan.6 respondents think that Bank should have to provide Proper and fast services.5 respondents suggest to provide fast security in case of internet related services.4 respondents are of the opinion that Government and bank should open more Bank branches in rural area to increase the financial inclusion.
Have a Bank Account Yes No Total Number of respondent 192 8 200 % of respondent 96 4 100
Table 1
% of respondents having a bank account
Yes 4% No
96%
Interpretation
From the above graph we can see that 96% of the respondents have a bank account and rest of the respondents are financially exclusive means they don’t have a bank account.
1a) Reasons for not having a bank account.
Reasons For Not Having a Bank No. Of % of respondents Account Respondents No point benefit to receive in cash No point benefit to receive in cash No point benefit to receive in cash No point benefit to receive in cash No point benefit to receive in cash No point benefit to receive in cash No point benefit to receive in cash Total 0 3 1 3 1 0 0 0 37.5 12.5 37.5 12.5 0 0
8
100
Table 2
0%
Reasons For Not Having a Bank Account
0% 13% 0% 37%
No point benefit to receive in cash Documentation Requirements Tried to open but was refused
38% 12%
Don't have money
Lack of ATM facility
Interpretation
The above graph presents that 37% of respondents who don’t have a bank account facing a problem of documentation requirements ,38% of respondents don’t have money to open a bank account,12% of respondents have tried to open but they were refused and 13% of respondents don’t want to open a bank account because of lack of ATM facility.
1b) Reasons for opening the Bank Account.
Reasons for having a No. Of Respondents Bank Account For saving money For receive payments To request a loan For receiving remmitance Other For saving money Total 184 43 25 0 0 184 73.02 17.06 9.92 0.00 0.00 73.02 % Of Respondents
252
100.00
Table 3
Reasons For Having a Bank Account
0% 0% 10% 17%
For saving money For receive payments To request a loan For receiving remmitance Other
73%
Interpretation
The above graph explains that more than half of the above respondents open bank account for saving money.The 17% and 10% of the respondents open a bank account for receiving payments and request a loan respectively.None of them are interested to open a bank account for the purpose of receiving remmitance.
2) Which type of bank account do you have?
Type Of Bank Account Saving Bank Account Current Account Recurring Deposit Acount Fixed Deposit Account Other TOTAL No. Of Respondents 151 9 27 66 0 253 % Of Respondents 59.68 3.56 10.67 26.09 0.00 100.00
Table4 Type Of Bank Account
Saving Bank Account Current Account Recurring Deposit Acount Fixed Deposit Account
0% 26% 11% 60%
3%
Interpretation
The above graph represents that 60% of respondents have a saving bank account.26% and 11% of the respondents have a recurring deposit account and Fixed deposit account respectively.Only 3% of the peolple have a current aaccount.
3) Are you using any form of financial services or products?
Use Of Financial Services Yes No TOTAL No. Of Respondents 185 7 192 % Of Respondents 96.35 3.65 100.00
Table 5
RESPONDENT USING FINANCIAL SERVICES
Yes
4%
No
96%
Interpretation
The above graph shows that 96% of respondents in Anand city uses a financial services and rest of the respondents don’t use the financial services for a particular reasons.
4) What kind of financial services or products you use?
Kind Of Financial Services Banking Facility Loan Facility Insurance ATM Mobile Banking Net Banking TOTAL
No. Of Respondents 60 110 128 150 42 33 523
% Of Respondents 11.47 21.03 24.47 28.68 8.03 6.31 100.00
Table 6 USE OF FINANCIAL SERVICES
6% 11%
8%
Banking Facility
21%
Loan Facility Insurance ATM
29%
25%
Mobile Banking Net Banking
Interpretation
From the above graph we can see that 29 % of respondents use ATM.25% and 21% of the respondents use Insurance and Loan facility respectively.The minority of the respondents in Anand city use banking facility,mobile banking and net banking.These all three services have low portion in the total financial services.
5) Have you or your family ever borrowed or take a loan from a Bank?
Borrowed Or Take A Loan No. Of Respondents From a Bank Yes No
TOTAL
% of Respondents
128 57
185
69.19 30.81
100.00
Table7 RESPONDENT TAKING LOAN FROM A BANK
31%
Yes
69%
No
Interpretation
The majority of the respondents in Anand city take a loan from the bank for various purposes.31% of the respondents don’t have any interest in taking loan or borrowed from the bank.
5a) What are the Reasons for borrowing?
Reasons for borrowing Agriculture purpose Education purpose Marriage purpose Home purpose Vehicle purpose Other(Business Purpose) TOTAL No. Of Respondents 18 9 2 34 57 8 128 % Of Respondents 14.06 7.03 1.56 26.56 44.53 6.25 100.00
Table8 REASONS FOR BORROWING
Agriculture purpose
6% 14% 7% 44% 27% 2%
Education purpose Marriage purpose Home purpose
Vehicle purpose
Interpretation
The 44% of the respondents borrowed for thepurpose of purchasing vechicles from the bank.The 27% and 14 % of the respondents take a loan for home purpose and agriculure purpose respectively.Less than 10 % of the respondents like to borrowed for the purpose of business and education.respondents in anand city are less likely to take a loan from the bank for marriage purpose.
6) If loan was available what difficulties have you faced in the process?
Obstacles In The No. Of Respondents % Of Respondents Process Of Loan Documentation Loan sanctioning Time consuming Interest rate consulting services Total 77 33 13 29 2 154 50 21.43 8.44 18.83 1.30 100
Table 9 OBSTACLES IN THE PROCESS OF LOAN
1% 19%
Documentation
9% 50%
Loan sanctioning
Time consuming Interest rate consulting services
21%
Interpretation
The above graph states the obstacles that respondents face in the process of availing the loan.Half of the respondents who availed the loan facilityb bear a problem of documentation.21% of the respondents in anand city face a problem
of delay in loan sanctioning procedure.19 % of the respondents feel difficulty in interest rates.Less than 10 % of the respondents are concerned about the time consumption in the loan sanctioning process.
7) From which sources you get to know about financial services?
Sources Of Financial Services No. Respondents Newspaper TV advertisements Hoarding Friends/Relatives Bank financial advisor/consultant Others(Internet) Total Of % Of Resondents
27 16 4 36 127 13 1
224
12.05 7.14 1.79 16.07 56.70 5.80 0.45
100
Table9
Sources Of Financial Services
Newspaper
0.5% 6% 12% 7% 2%
TV advertisements Hoarding
16%
57%
Friends/Relatives
Bank
financial advisor/consultant
Others(Internet)
Interpretation
From the above graph we can see that bank is the main sources of financial awareness.16% of the respondents come to know about the financial services from the newspapers.Tv advertisements is the main source of financial awareness for 12 % of the respondents.The rest of the respondents come to know about the financial services from the Internet,financial
advisor,friends/relatives and Hoardings.
8) Which is the most easily accessible financial service?
Financial Services Banking Facility Loan Facility Insurance ATM Mobile Banking Net Banking Total No. Of Respondents 9 3 28 138 4 3 185 % Of Respondents 4.86 1.62 15.14 74.59 2.16 1.62 100
Table 10
THE MOST EASILY ACCESSIBLE FINANCIAL SERVICE
2% 2% 5% 15% 2%
Banking Facility Loan Facility Insurance
ATM
74%
Mobile Banking Net Banking
Interpretation
The above graph shows that ATM is the most easily accessible financial service.As per the 15 % of the respondents,Insurance is the most easily accessible financial service.Banking facility is easy to access for 5 % of the respondents in Anand city.Less than 5 % of the respondents believe that Loan facility,Net banking and Mobile banking are easy to access.
9) In the last 2 years have you been refused any of the above financial services?
Refused Service Yes No Total 32 168 200 16 84 100 a Financial No. Of Respondents % Of Respondents
Table 11
% OF RESPONDENTS REFUSED A FINANCIAL SERVICE
16%
Yes
No
84%
INTERPRETATION
16 % of the respondents have refused for financial services in the last two years for a particular reason.84 % of the respondents have not been refused for any of the financial service in the last two years.
9a) If Yes,what is the reason for rejecting that financial service? Reasons for rejecting a No. Of Respondents Financial Services lower security Don't have money Fear of security Lack of proper services Not necessary Don't have time Total 5 7 4 1 9 6 32 15.63 21.88 12.50 3.13 28.13 18.75 100 % Of respondents
Table 12
REASONS FOR REJECTING FINANCIAL SERVICES
19%
16%
lower security Don't have money
22%
Fear of security Lack of proper services Not necessary
28% 3% 12%
Don't have time
INTERPRETATION
The above graph presents that lower security is the main reason for rejecting a financial services for 28 5 of the respondents in Anand city.22 % of the respondents don’t have money to use a financial service. 19 % of the respondents don’t have time to use a financial services.16 % of the respondents
believe that financial services are not necessary for them.3% of the respondents take lack of proper services as a reason for rejecting financial services. 10 ) What are the financial services yet not available in your city? Financial Services Wealth services Demat account KCCs TOTAL Total management 120 55 10 185 185 64.86 29.73 5.41 100.00 100 No. Of Respondents % Of respondents
Table 13
NON-AVAILABILITY OF FINANCIAL SERVICES Wealth management services
5% 30%
Demat account KCCs
65%
INTERPETATION
The above graph describes that 65 % of the believes that wealth management service is not available in their city.30 % of respondents in Anand city believes
that Demat account facility is not available in their city.According to 5 % of the respondents,KCCS is not available in their city.
11) What is the level of satisfaction after using any of the financial services?
Financial services
Highly Satisafied
Satisfied
Moderate
Dissat isfied
Highly Dissati sfied
Total
Insurance ATM Net Banking Banking Facility
81 101 18
37 36 8
10 11 6
0 2 2
0 0 0
128 150 34
29
24
6
1
0
60
Loan facility 9 Mobile Banking 18
48 19
30 4
21 1
1 0
109 42
Table 14
Level Of Satisfaction After Using Financial Services
120 101 100 81 80 60 40 20 0 Highly satisfied Satisfied Moderate Dissatisfied Highly Dissatisfied 37 10 0 Insuranc e 81 37 10 0 0 36 11 2 ATM 101 36 11 2 0 18 86 29 24 2 6 1 9 Loan facility 9 48 30 21 1 48 30 21 19 18 41 Mobile Banking 18 19 4 1 0
Net Banking 18 8 6 2 0
Banking Facility 29 24 6 1 0
Interpretation
The above graph shows that Highest number of respondents are highly satisfied by using ATM .81 respondents are highly satisfied with Insuarance.29 respondents are highly satisfied by using Banking Facility.The same number of respondents that is 18 respondents are highly satisfied with Mobile Banking and Net Banking.Only 9 respondents are highly satisfied with loan facility.The highest number of respondents are satisfied with loan facility.The same number of respondents are satisfied with ATM and Insurance facility.The less number of respondents that is 8 responedents are satisfied with net banking.30 respondents are of moderate view for loan facility.None of respondents are dissatisfied and highly dissatisfied with insurance.The highest number of respondents are dissatisfied with loan facility.
12) Do you thinking that Government,Local Bodies or Banks need to improve a lot in providing financial services? Particulars Yes No TOTAL No. Of Respondents 44 149 193 % Of Respondents 22.80 77.20 100.00
Table 15
Government Need To Improve A lot In Providing Financial Services
23%
Yes 77% No
Interpretation
77 % of respondents think that Government,Local Bodies and Bank need to improve a lot in providing financial services.23 % of the respondents think inversely means they do think that Government,Local bodies and Bank do enough to increase a financial inclusion.
13)If yes,Give Any suggestion.
Suggestions No. Of % Of
Responden Respondents ts Loan should be given on the basis of business Should provide proper and fast srvices Bank make loan procedure faster Government should decrease the rate of interest on loan Government and bank should try to open more branches in rural area Bank should decrease the waiting period for customer Bank should appoint more customer representatives Government should provide more
1 6 10 9 4 2 2 1 5 1 3 44
2.27 13.64 22.73 20.45 9.09 4.55 4.55 2.27 11.36 2.27 6.82 100
financial services in rural area Provide higher security Government should increase financial literacy Bank should increase the rate interest on FD and Saving Bank Account Total
Table 16 Suggestions To Improve financial Inclusion
No. Of Respondents
10 10 9 8 7 6 5 4 3 2 1 0 9 6 5 4 3 2 1 2 1 1
Suggestions
INTERPRETATION
10 respondents are of the opinion that Loan procedure should make fast to increase financial inclusion.9 respondents suggests that Bank should decrease the interest on loan.6 respondents think that Bank should have to provide Proper and fast services.5 respondents suggest to provide fast security in case of internet related services.4 respondents are of the opinion that Government and bank should open more Bank branches in rural area to increase the financial inclusion.
