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Impact of Financial Inclusion Among Wayanad Tribals

 

 

Praveen K.P, Dr.R. Velmurugan.

1Ph.D. Research Scholar in Commerce,

Karpagam Academy of Higher Education,

Coimbatore – 641021, Tamil Nadu, India

E Mail: praveenpulpally948@gmail.com

2Professor, Department of Commerce,

Karpagam Academy of Higher Education,

Coimbatore – 641021, Tamil Nadu, India

E Mail: drvelsngm@gmail.com

 

 

Abstract - This study examines the role of financial inclusions on the Wayanad tribal people using socio-economic attributes, banking practices, and factors that inform their interactions with formal financial services. The findings suggest that most respondents are rural, are low-income earners and lack access to good education, but have been increasingly using formal banking institutions. The exploratory factor analysis describes three main dimensions of the effect: (1) strengthening the financial security and the household resources, (2) greater access to and trust in banking services and (3) better understanding of formal savings mechanisms. All these dimensions explain 77.963% of the variance, which is a major contribution of financial inclusion in enhancing economic empowerment and general wellbeing among the tribal community in Wayanad.

 

Keywords: Financial inclusion, tribal communities, socio-economic empowerment, banking accessibility, Wayanad

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