Understanding the Financial Inclusion Moderating Effect on Negative Attitude of Muslim Population towards Banking Services in Tamil Nadu, India
DOI:
https://doi.org/10.61841/d72mte06Keywords:
Financial Inclusion, Unbanked Community, Global Financial Development Report (GFDR)Abstract
Financial inclusion, meanwhile, has turned into a progressively more important concern for a huge number of countries with wide-reaching effects. The Indian economy is growing, but ironically the rate of poor people is also increasing. The state should strive to establish an egalitarian society. However, most Indian citizens do not have access to credit. At the same time, there is a question that arises about a particular community who are unbanked and unaware of these services due to some religious faith. This paper will talk about the Muslim unbanked community who avoid using banking services due to RIBA (interest), as it is Haram (illegal). The study will inspect the effect of financial inclusion on the unbanked segment of Muslim society. Moreover, fast-rising literature has materialized to inspect its measurement, elements, and effects. The authors used an exploratory research design for the analysis. Hence, a 256 sample size from the Tamil Nadu state of the Muslim unbanked society, who are above 18 in age, has been taken for the study. The cluster sampling technique has been used. T-test, ANOVA, and SEM have been used for finding out the actual result.
Downloads
References
[1] Mushtaq, R., & Bruneau, C. (2019). Microfinance, financial inclusion and ICT: Implications for poverty
and inequality. Technology in Society, 59, 101154.
[2] Siddik, M.N.A., & Kabiraj, S. (2020). Digital Finance for Financial Inclusion and Inclusive Growth.
In Digital Transformation in Business and Society (pp. 155-168). Palgrave Macmillan, Cham.
[3] Sha‟ban, M., Girardone, C., & Sarkisyan, A. (2019). Financial Inclusion: Trends and Determinants.
In Frontier Topics in Banking (pp. 119-136). Palgrave Macmillan, Cham.
[4] Patwardhan, A. (2018). Financial inclusion in the digital age. In Handbook of Blockchain, Digital Finance,
and Inclusion, Volume 1 (pp. 57-89). Academic Press.
[5] Ramasubbian, H., & Duraiswamy, G. (2012). The aid of banking sectors in supporting financial inclusion: an implementation perspective from Tamil Nadu state, India. Research on Humanities and Social Sciences, 2(3), 38-46.
[6] Bhuvana, M., & Vasantha, S. (2016). Dimensions for measuring financial inclusion in the rural areas of Tamil Nadu. Indian Journal of Science and Technology, 9(32), 1-8.
[7] Mirakhor, A., & Iqbal, Z. (2012). Financial inclusion: Islamic finance perspective.
[8] Mohieldin, M., Iqbal, Z., Rostom, A., & Fu, X. (2011). The role of Islamic finance in enhancing financial inclusion in Organization of Islamic Cooperation (OIC) countries. The World Bank.
[9] Iqbal, Z., & Mirakhor, A. (2012). Financial inclusion: Islamic finance perspective. Journal of Islamic Business and Management, 219(1236), 1-62.
[10] https://www.nabard.org/auth/writereaddata/tender/3107173739SMFI%202009-10%20Eng.pdf
[11] Dayanithi, S. "Study on Digital Banking Services after Demonetization with Reference to Kancheepuram District." International Journal of Human Resource Management and Research (IJHRMR) 8.6 (2018): 93-100
[12] Alsamydai, M.J., S. Hmod, and A. Suaad. "Measuring customers‟ attitudes toward banking services offered by Iraqi public and private commercial banks." International Journal of Business Management Research (IJBMR) 4.2 (2014): 109-124.
[13] Nayak, Nitin, V.I.K.A.S. Nath, and Nancy Goel. "A study of adoption behavior of mobile banking services by Indian consumers." International Journal of Research in Engineering & Technology (IMPACT: IJRET) 2.3 (2014): 209-222.
[14] Beg, S. A. N. A., and Naushadul Haque Mullick. "Increasing financial inclusion through Islamic banking in India." International Journal of Business Management & Research (IJBMR) 6.1 (2016): 27-34
[15] Jose, Manu. "Financial Inclusion and Financial Literacy: A Study with Reference to Kannur Dt, Kerala." International Journal of Humanities, Arts, Medicine and Sciences (BEST: IJHAMS) 2.10 (2014): 27-32.
[16] Katia, V.I.K.A.S. "Financial inclusion for direct benefit transfer growth and hurdles." International Journal of Economics, Commerce and Research (IJECR) 3.5 (2013): 13-20.
[17] Lodha, G.A.U.R.A.V., and I.V. Trivedi. "Nabard: A Financial Inclusion through Regional Rural Banks (RRB‟S)." International Journal of Research in Business Management (IMPACT: IJRBM) 3.10 (2015): 77-82.
[18] Singh, Alka. "Role of Technology in Financial Inclusion." International Journal of Business and General Management (IJBGM) 6.5 (2017): 1-6.
Downloads
Published
Issue
Section
License
Copyright (c) 2020 AUTHOR
This work is licensed under a Creative Commons Attribution 4.0 International License.
You are free to:
- Share — copy and redistribute the material in any medium or format for any purpose, even commercially.
- Adapt — remix, transform, and build upon the material for any purpose, even commercially.
- The licensor cannot revoke these freedoms as long as you follow the license terms.
Under the following terms:
- Attribution — You must give appropriate credit , provide a link to the license, and indicate if changes were made . You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use.
- No additional restrictions — You may not apply legal terms or technological measures that legally restrict others from doing anything the license permits.
Notices:
You do not have to comply with the license for elements of the material in the public domain or where your use is permitted by an applicable exception or limitation .
No warranties are given. The license may not give you all of the permissions necessary for your intended use. For example, other rights such as publicity, privacy, or moral rights may limit how you use the material.
