A REVIEW OF BANKS’ FINANCIAL INCLUSION INITIATIVES IN TRIPURA

Commerce

Since India in last three decades the key objective of policy makers and central bankers are to eliminate the problem of financial exclusion. In our nation state ‘inclusive financing’ or ‘financial inclusion’ plan is to be considered as the major initiative taken by the Government of India, to include the rural poor and low income people within the formal banking system to access financial services at an affordable cost, timely and adequately. This paper briefly tries to examine the growth of financial inclusion by using a comparative statement between pre and post financial initiatives and also try to analyze the present situation of financial inclusion process in Tripura by using the statistical tools like, Pearson’s correlation and ‘t’-test Analysis. The result of this study reveals that, there is a significant difference between growth of pre and post financial initiatives in Tripura. The present study also finds that, there is a significant correlation between rural areas and the combined of urban & semi-urban areas in Tripura in respect of opening of bank branches, amount of deposits and amount of credits. In addition, the relationship between these two areas in the present state is highly significant for opening of bank branches and amount of credits. But the amount of deposits in rural areas and the combined of urban & semi-urban areas in Tripura is low level of correlation. It means that, the amount of deposits in the rural areas is very low as compare to the combined of urban & semi-urban areas amount of deposits.

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