NABARD - Student Internship Scheme 2016-2017 - page 51

60% of the respondents receive SMS alert to their mobile. 98% of the respondents are aware of the name
of their bank and only 2% were not sure. Awareness regarding ATMs, usage of ATMs, money transfers
was found to be 53%.
The awareness regarding PMJJBY & PMSBY was 90% with 73% having both PMJJBY & PMSBY, 85%
have PMSBY & 60% have PMJJBY & 27% have none either because of not being aware or not being
90% of the respondents are unaware of cheque book facility with 0% having provided cheque book by
the banks. There is a need for awareness of KCC among people with only 36% being aware of it. Only
30% of the respondents have been issued KCC. It is also observed that, 40% of the respondents were
aware of the OD facility with remaining 60% being unaware of it. Although 40% were aware of the OD
facility only 20% were having clear knowledge of its working.
High level of awareness was observed among respondents about various Social security Schemes such as
PMJJBY & PMSBY. 73% respondents have insured under both PMJJBY & PMSBY. 85% of Respondents
have availed accidental insurance under PMSBY and 60% of respondents have insured life under
90% of the respondents are aware of the FLC being conducted in their villages with 80% having attended
the FLC and they found it beneficial.
85% respondents felt that the interaction with the bank staff was good and helpful.
Major Recommendations:
To develop low cost bank branch model (possibly attached to village post office) for further Financial
To strengthen BC model through infrastructure support. Financial literacy teaching in schools and
colleges, outsourcing the service during peak season/hours and Incentivizing students to open Jan
Dhan accounts may be encouraged.
The banks are complying with RBI norms in terms of opening branches, offering no frills account, kisan
credit card, simplifying KYC norms, but still much effort is needed to be put in for financial inclusion
Biometric cards should be introduced for security in transactions as well as saving time.
Business correspondents should be employed in villages and trained in advance for promoting financial
inclusion program.
Banks need to open its more branches within rural areas and creating more awareness about banking
services among rural people by educating them about the benefits of the banking services.
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