ABSTRACT

The MGNREGA has mandated payments through formal financial institutions, it is expected to have resulted in enhanced financial inclusion of poor and marginalized sections of the society. Achieving inclusive growth makes financial inclusion a key policy concern for a developing nation like India. Linking Mahatma Gandhi National Rural Employment Guarantee Scheme (MNREGA) with financial inclusion drive in Kerala posed to bring in large number of women population through their no frills savings accounts into the banking system and enable them to avail basic financial services like savings and credit. This paper attempts to assess the effectiveness of the process of implementation of financial inclusion drive for women’s at the ground level in Kottayam district (Kerala) to identify any gaps and analyze its effectiveness in influencing financial behavior of women MNREGA beneficiaries so as to make future policies in this regard more effective. It was analyzed that women in semi-urban and urban areas have much higher clarity motives behind financial inclusion.

Keywords: Financial inclusion, No-Frills Accounts, Inclusive Growth