In order to access the level of financial inclusion in New Delhi, a survey was conducted in area of Govindpuri, Kalkaji, CR park (South Delhi) through a questionnaire.

1. PROJECT REPORT ON FINANCIAL INCLUSION
SUBMITTED TO – SANGEETA MA’AM
SUMITTED BY – ABHISHEK VERMA(13/0098)
EKTA KHETAN(13/0065)

2.  Financial inclusion or inclusive financing is the
delivery of financial services at affordable cost
to sections of disadvantaged and low-income
segments of society, in contrast to financial
exclusion where those services are not available
or affordable.
 An estimated 2 billion working age adults
globally have no access to the type of financial
services delivered by the regulated financial
institutions.

3.  Creating a platform for inculcating the habit to
save money.
 Providing formals credit avenues.
 Plug gaps and leaks in public subsidies and
welfare programmers.

4.  Khan Committee
 Setup by RBI in 2004.
 Exhorted banks to make available ‘no frills a/c’.
 Rangarajan Committee
 Inability to provide collateral security.
 Weak community network.
 Nachiketmor Committee
 Setup by RBI in 2003.
 Under chairmanship of Nachiketmor, an RBI board
member.

5.  Population of Delhi consist of big group of migrants, labour
coming from other parts of country in search of
employment, education and other purposes.
 This group being financially weak due to low literacy. Low
income, generally do not have access to the financial
services.
 In order to access the level of financial inclusion in New
Delhi, a survey was conducted in area of Govindpuri,
Kalkaji, CR park through a questionnaire.
Target groups were labourers, small shopkeepers, vendors.

6. OBJECTIVE
To assess the impact of policy initiatives on financial
inclusion in Delhi.
SURVEY BRIEF
Survey sample size – 40
Area – Govindpuri, Kalkaji, Deshbandhu College
Canteen.
METHODOLOGY
40 people were randomly surveyed regarding financial
inclusion through a well constructed questionnaire.

7. 1) Do you have a bank a/c?
2) No. of accounts in your household?
3) Which type of account do you have?
4) For what purposes you use your account?
5) What are the reasons that your household opened the
account?
6) Who helped you opened the account?
7) How frequently do you save in your account?
8) How much do you save?
9) Reasons for refusing a bank account?
10) Have your household borrowed or take a loan?

8. 1) Are you aware of the thing that a bank account can be
opened by anyone with zero account?
2) How did you find that banks were opening such “no
frills” account?
3) Do you have any grievances in your “no frills”
account?
4) If borrowed, what was the type of credit/loan?
5) Are you using any type of financial services or
products?
6) Have you purchased any insurance scheme?
7) Do you know about banking credit?

9. 1) Over the past couple of years, have you been
anywhere for taking advice about money matters?
2) Have you ever approached a bank for credit need?
3) What would you do if you needed money in
emergency?

10. Single member
2%
3 m
12%
4 m
10%
5 m
17%
6 m
13%
7 m
13%
8 m
8%
9 m
10%
10 or more members
15%
When asked about their family members they have in their
family

11. 70%
30%
Q-1 Do you have a bank a/c?
Yes No

12. 80%
6%
0% 14%
Q-3 Which type of account do you have?
saving a/c current a/c fixed a/c others

13. 82%
9%
3%
6%
Q-4 For what purpose you uses you’re a/c?
Depositing and withdrawing money Making and receiving payments
To become eligible for other services Both depositing and making payments

14. 3% 0%
57%
9%
31%
Q-5 What are the reasons that your household opened the
account?
To receive Govt. payments To request a loan For saving money For receiving remittances others

15. 5%
14%
28%42%
11%
Q-6 Who helped you opened the a/c?
Village panchayat official Neighbor Bank officials Friends/Relatives Others

16. 9%
29%
0%
41%
21%
Q-7 How frequently do you save in your a/c?
Don't save/Never Atleast once in a month Less than once in a month I put in money as andwhen I can Others

17. 17%
74%
6% 3%
Q-8 How much do you save? (in%)
No savings 10%-20% 20-30 30 or more

18. 67%
33%
Q-10 Are you aware about zero balances a/c?
Yes NO

19. 18%
19%
59%
0%
4%
0%
Q-11 How did you find that banks were opening such "NO
FRILLS" a/c?
Bank officials Neighbors Newspapers/Advt. NGO Village Panchayat Posters

20. 40%
35.00%
15%
2%
8%
60%
Q-13 Have your household borrowed or take a loan?
NO Bank Relative Friends Moneylenders

21. 13%
29%
8%
4%
33%
13%
46%
Q-14 If borrowed, what was the type of credit/loan?
Housing loan Business loan Vehicle loan Education loan Household items Day to day expenses

22. 57%
8%
35%
43%
Q-15 Are you using any other form of financial services or
products?
No Credit card Debit card

23. 57%
7%
3%
10%
3%
20%
Q-20 What would you do if you needed money in emergency
Ask a family or friend Take out loan form sources Sell something Don't know Take out a bank loan Draw on savings

24.  Steps taken towards bringing lower income groups to the
banking system has been successful to a significant extent,
as the main causes observed earlier like lack of knowledge
about banking schemes and policies.
 While doing survey it was found that people are
voluntarily excluding themselves from banking system,
most of them do not have bank accounts.
 The reasons behind not approaching banks are mainly the
minimum balances which have been taken care by No Frills
Bank Account but most of the respondent was not aware
about this type of account. Hence it needs to be advertised.
 It was found that people prefer to borrow from personal
sources when the purpose is personal or consumption.
Where the amount to be borrowed is generally small, the
people found to be hesitated to approach banks, whereas for
other productive purposes they borrow from bank.
 In other words, it may be said as per the study conducted in
Govindpuri, Kalkaji Area. Despite the thrust given to
financial inclusion, the desired results have not come up.