NABARD - Student Internship Scheme 2016-2017 - page 71

average number of transactions done in a month. Ropar, inspite of having least average number of
bank accounts still has higher average number of transactions in a month than Mohali.
• The major source of borrowing for respondents is Banks (33.33%) followed by friends or relatives
(16.33%), other sources (13%) and moneylenders (9.67%). 27.67% respondents have never taken a
• 85% respondents out of 50 have not availed credit facility. 72% out of 42 respondents have not taken
loan because they did not require it, 14% are scared of debt circle and increasing suicides and 14%
have not taken loan due to lack of knowledge.
• The relation between Income level and source of borrowing shows that the maximum number of
respondents who borrowed from Banks belong to the Category D i.e. earn between Rs.200000-
400000. Maximum respondents who borrowed from Moneylenders earn between Rs.50000-
100000. Maximum respondents who borrowed from Friends/ Relatives earn between Rs.100000-
• Maximum respondents who have taken Insurance belong to Patiala (57) followed by Ropar (40)
and then Mohali (38). Respondents having Government Pension are highest in Patiala (19) followed
by Mohali (12) and then Ropar (11). Overall 45% respondents have Insurance and 14% have govt.
• 58.02% respondents having income between Rs.200000-400000 have Insurance. 52.77% having
income Rs. 400000 and above have Insurance. 26.76% having income between Rs. 50000-100000
have Insurance while 28.57% earning less than Rs. 50000 have Insurance.
• In terms of Social security schemes, 39.67% have PMSBY, 25.33% have PMJJBY and 3% have
• 80% respondents i.e. 40 out of 50 have not taken social security schemes under financial inclusion
(PMSBY, PMJJBY and PMAPY). 52.5% have not taken because they are not eligible due to their age,
22.5% have not taken these schemes due to lack of knowledge while 25% are already availing some
other social security scheme apart from these.
• Only 27.67% respondents have attended Financial Literacy Camps while 72.33% have not.
• The relation between education level and attending FLC shows that 73.33%Graduates have attended
FLC. 39.53% Sr. Secondary pass outs have attended FLC while only 17.88% of School dropouts have
attended FLC.
• The data of KCC holders collected from two bank branches of SBOP and Patiala Central Cooperative
Bank in Kallo Majra village of Patiala district showed that 7 names appeared in both the lists out of
162 KCC indicating 4.32% duplicity of KCC.
Major Recommendations:
• Exclusive mass financial literacy and awareness among the marginalized sections of people are
required to be designed and customised.
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