Attitude of beneficiaries towards financial literacy initiatives taken up by private sector banks for sustainable development with special reference to Rajasthan
by Harsh Purohit; Pawandeep Kaur Bindra
International Journal of Economic Policy in Emerging Economies (IJEPEE), Vol. 14, No. 5/6, 2021

Abstract: This study attempts to assess the impact of private sector bank's (ICICI Bank, Axis Bank and HDFC Bank) initiatives for teaching their beneficiaries about retirement and insurance planning, estate planning, alternative channels of banking, promotional mediums and their ability to save. As these five were components of financial literacy, the data collection instrument consisted of structured questionnaire. Five factors were identified through exploratory factor analysis. This study surveys 531 beneficiaries from four different districts of Rajasthan. The study found there is significant positive impact of initiatives taken by private sector banks for increasing savings, retirement and insurance planning of individuals and their ability to save and their ability to make retirement and insurance planning. Medium correlations were found between promotional measures taken by banks and understanding of beneficiaries about financial services and products. As far as the estate planning is concerned beneficiaries were not satisfied with initiatives taken up by the banks. It was observed from the study that there is significant positive impact of initiatives taken up by banks for teaching about alternative of channels of banking and understanding about these channels by beneficiaries.

Online publication date: Tue, 16-Nov-2021

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Economic Policy in Emerging Economies (IJEPEE):
Login with your Inderscience username and password:

Username:        Password:          Forgotten your password?

Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com