Assessing Financial Inclusion Impact on Economic Empowerment in Pondicherry: A Study on Banking Scheme Beneficiaries

Venkatesa Palanichamy N.

Agricultural College and Research Institute, TNAU, Coimbatore, India.

Kalpana M. *

Agricultural College and Research Institute, TNAU, Coimbatore, India.

Ilavazhagan V.

Agricultural College and Research Institute, TNAU, Coimbatore, India.

Aruna Prabha S.

Agricultural College and Research Institute, TNAU, Coimbatore, India.

*Author to whom correspondence should be addressed.


The Indian banking industry today is quite robust and strong to be able to take on the challenges of achieving greater financial inclusion. Access to affordable financial services, such as credit and insurance enlarges livelihood opportunities and empowers the poor to take care of their lives. These empowerment aids will create social and political stability. Customers who are account holders in Indian bank under financial inclusion scheme in Pondicherry formed the population of the study. The bank stated that thousands of customers were covered under this scheme. Since the study focus only on individual account holders, of financial inclusion. List of individual account holders was obtained from the bank case firm. Majority (60 per cent) of the respondents’ income was in the range of around Rs. 3,000 – 5, 000 per month. 64 per cent of sample respondents were living in the concrete roofed houses. About 37 per cent of respondents were visiting the bank once in a month followed 33 per cent visits as and when it requires. The economic empowerment index revealed that there was no significant improvement in the savings pattern, increase in income and housing condition and it was found that there was slow and insignificant level of economic empowerment taking place among the socially disadvantageous people even after the financial inclusion under NPPFI scheme implemented by banks. It could be concluded that the scheme had not brought any significant change in the life style and economic status of the people who are supposed to be its beneficiaries.

Keywords: Financial inclusion, empowerment, banking, financial services

How to Cite

Venkatesa Palanichamy N., Kalpana M., Ilavazhagan V., & Aruna Prabha S. (2024). Assessing Financial Inclusion Impact on Economic Empowerment in Pondicherry: A Study on Banking Scheme Beneficiaries. Advances in Research, 25(4), 40–46.


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