A Study on the Role of Financial Services in the Financial Inclusion of Farmers

Abstract

Financial inclusion is an effort to give access and make sure that the usage of financial services by underserved population. Formers financial inclusion is very important for increasing the standard of living and it’s an important tool for empowerment of farmers. There are many financial services which are available exclusively to farmers Like KCC, PMFBY, Crop Loan etc. but the usage of those services is not satisfactory among the farmers. In this paper, we are analyzing whether the financial services to farmers are influencing the financial inclusion of famers. The primary data is collected from 160 farmers and data is analyzed by using various statistical techniques like correlation, parametric test by using statistical software called SPSS and MS Excel. The study reveals that the digital financial services are increasing the financial inclusion among farmers and there is lack of awareness about most of the financial services available to the farmers.