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Access to Banking Services and Poverty Reduction: A State-Wise Assessment in India


Amit K. Bhandari


University of Calcutta - Indian Institute of Social Welfare and Business Management (IISWBM); Institute for the Study of Labor (IZA)


IZA Discussion Paper No. 4132

Abstract:     
Financial inclusion is the broad based delivery of banking and other financial services at affordable cost to the poorest sections of society. In India, financial inclusion emphasizes to include maximum number of people under formal financial systems. The most important part of financial services in a region is typically measured by number of people who have access to bank accounts. The present study investigates the drive to financial inclusion in the form of the growth in bank accounts of scheduled commercial banks and the changes in below poverty line population. The result suggests that the growth in bank accounts is not significantly associated with the reduction in below poverty line population across states. Providing banking services to maximum number of people is unsuccessful as a poverty reduction strategy. As a poverty reduction strategy, developing inclusive financial systems should give priority, which is financially and socially sustainable.

Number of Pages in PDF File: 16

Keywords: banking, financial inclusion, poverty

JEL Classification: G24, G21, I32

working papers series


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Date posted: April 28, 2009  

Suggested Citation

Bhandari, Amit K., Access to Banking Services and Poverty Reduction: A State-Wise Assessment in India. IZA Discussion Paper No. 4132. Available at SSRN: http://ssrn.com/abstract=1395079

Contact Information

Amit K. Bhandari (Contact Author)
University of Calcutta - Indian Institute of Social Welfare and Business Management (IISWBM) ( email )
Kolkata
West Bengal
India
Institute for the Study of Labor (IZA)
P.O. Box 7240
Bonn, D-53072
Germany
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