DOI: 10.36347/sjebm.2018.v05i01.001

Pages: 1-9

The banking system encourages the savings habit, acts as an intermediary between the people with surplus funds and the people who need funds for their business activities in the form of loans and advances, it helps in raising the standard of living of the people, it facilitates transactions in the form cash, receipts & payments through other financial instruments, helps in the economic development of the country by disbursing credit to agriculture & its allied sectors, small-scale industries, medium & small scale industries, self-employed. Indian banking system comprises of both the commercial and co-operative banks but the commercial banks have more total assets of the banking system. The commercial banks were considered as the intermediaries who collect deposits from the public and disburse credit to the productive sectors of the economy. However, the progression and growth of banking sector would give much priority to the public for financial inclusion. The sense of financial inclusion signifies the saving mechanism of individuals and businesses who have access to useful and affordable financial products and services to meet their financial needs such as transactions, payments, savings, credit and insurance in a sustainable way. The present study is mainly shedding light on the perception of the rural residents who are being rendered the financial services by various public and private bankers in East Godavari District Region, Andhra Pradesh. In this study, the researchers followed the statistical tools like Factor Analysis, Karl Pearson’s Correlation coefficient and Regression Analysis in order to ascertain the most influential factors of financial inclusion.