Proceedings of the 2nd International Conference on Emerging Technologies and Sustainable Business Practices-2024 (ICETSBP 2024)

Inclusive Growth in Haryana Through Financial Services: A Banking Holders Perspective

Authors
Rishabh Monga1, *, Vipin Sharma2
1Chandigarh University, Punjab, India
2Chandigarh University, Punjab, India
*Corresponding author. Email: Rishabhmonga100ecoexpert@gmail.com
Corresponding Author
Rishabh Monga
Available Online 17 October 2024.
DOI
10.2991/978-94-6463-544-7_20How to use a DOI?
Keywords
Inclusive Growth; Financial Services; Banking Sector; Haryana; Economic Empowerment; Financial Inclusion; Account Holders’ Perspective
Abstract

In Haryana, India, financial inclusivity remains a significant challenge despite rapid economic development. Inclusive growth necessitates the equitable distribution of economic resources and the empowerment of all sections of society through access to essential financial tools. This study aims to examine the role of financial services in promoting inclusive growth in Haryana from the perspective of banking account holders. A mixed-methods approach was employed, combining quantitative data from a survey of 110 bank account holders across various districts in Haryana with qualitative insights from in-depth interviews. The survey included 17 questions, and the Cronbach’s alpha was 0.892, indicating excellent reliability. Descriptive analysis and linear regression were used to find the impacts of the variables. The results revealed a mixed perception of financial services among respondents. While there has been significant progress in the reach of banking services, substantial challenges remain, including gaps in financial literacy, product suitability, and service delivery, particularly in rural areas. The findings suggest that opinions on the improvement of banking services were divided, with 13.6% strongly agreeing and 31.8% disagreeing. Perceptions of the accessibility and effectiveness of financial literacy programs, digital banking services, and microfinance institutions were varied. Financial services play a crucial role in driving inclusive development in Haryana. While progress has been made, there are still significant gaps in service delivery and financial literacy that need to be addressed. Targeted policy recommendations include improving financial literacy, developing microfinance frameworks, and integrating technological advancements into banking services to bridge the urban-rural divide. Continuous assessment and monitoring of financial services are essential to ensuring their efficacy in promoting inclusive growth.

Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2nd International Conference on Emerging Technologies and Sustainable Business Practices-2024 (ICETSBP 2024)
Series
Advances in Economics, Business and Management Research
Publication Date
17 October 2024
ISBN
978-94-6463-544-7
ISSN
2352-5428
DOI
10.2991/978-94-6463-544-7_20How to use a DOI?
Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

TY  - CONF
AU  - Rishabh Monga
AU  - Vipin Sharma
PY  - 2024
DA  - 2024/10/17
TI  - Inclusive Growth in Haryana Through Financial Services: A Banking Holders Perspective
BT  - Proceedings of the 2nd International Conference on Emerging Technologies and Sustainable Business Practices-2024 (ICETSBP 2024)
PB  - Atlantis Press
SP  - 305
EP  - 319
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-544-7_20
DO  - 10.2991/978-94-6463-544-7_20
ID  - Monga2024
ER  -