Customers' Attitude and Acceptance of Banking Products

2432 Words Feb 21st, 2018 10 Pages
Finance has come a long way since the time when it wasn't recognized as a factor for growth and development. But recently, it is attributed as the brain of an economic system and most economies strive to make their financial systems more efficient. It keeps the policymakers on their toes as any problem in this sector could freeze the entire economy and even lead to a contagion. Financial Inclusion is an emerging need in day-to-day life which includes the all folk into the banking fold. Indian economy in general and banking services in particular have made rapid strides in the recent past. The Financial Inclusion concept has been introduced to entail the delivery of banking services at an affordable cost across a vast section of the underprivileged folk to get benefit from and improve their standard of living.
Financial Inclusion also inculcates banking habits among the poor in the urban, semi-urban and rural areas to overcome from the unorganized sector such as Money lenders etc. But the path of Financial Inclusion continues to be extremely fearsome due to complexities with it. From the bankers’ point of view, as profit generation places a high weightage on reduction of operational costs, these results in a natural exclusion of several sections of the society to come into the financial fold. Such financial exclusion will eradicate and betray the…
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