A Study on Customer’s Awareness and Percept...

A Study on Customer’s Awareness and Perception towards Small Finance Banks in Mandya District

Author Name : Dr. Savitha V, Pramod.K

ABSTRACT

 A bank is a financial institution which provides deposits and credits facilities, although there are some sections of the economy not being served by banks, such as small business units, small and marginal farmers, micro and small industries and unorganized sector entities. India’s large informal sector, which employs around 80 per cent of the labour force and produces about 50 per cent of GDP. Over the past few years banking industry has gone through many changes on such change has been in initiation Small Finance Bank, It was introduced in Sept 2015. The main objective of Small Finance bank is to provide financial inclusion to small business units, small and marginal farmers, micro and small industries and unorganized sector entities who are not served by other bank. Small Finance Bank is those banks which perform basic services such as accepting deposit and lending loans to its customers.  The Main objective of this study is to measure the awareness and perception of customers towards selected Small Finance Bank in Mandya District. The structured questionnaires have been used to gather the data from 120 respondents in Mandya. Statistical tools like percentage and weighted average method is used to represent the data.  The study found that most of the respondents are much aware about Small finance banks and its financial initiations and their role in financial inclusion of Underserved and Unserved section of the Economy.

Keywords: Consumer Awareness, Financial Inclusion, Inclusion, Perception, Unorganized Sector