TRANSLATION AND VALIDATION OF THE SURVEY INSTRUMENT FOR MEASURING THE USAGE OF BANK ACCOUNTS

The traditional research on Financial Inclusion has emphasized more on opening new bank accounts. But currently, the emphasis is shifted more towards the transactions within the bank accounts opened - measured as ‘Continued Usage'. In order to collect vital information on the behavioral and psychological factors that influence the usage of accounts, the researchers require a well-defined fully competent survey instrument in their vernacular language, since the targeted group is semi-literates or illiterates in India. Considering the need, this study aims to present a rigorously translated and empirically validated questionnaire for measuring the behavioral and psychological factors that influence the usage of Jhan Dhan Yojana accounts in India. Using sample of 270 low income households, data is analyzed using SmartPLS 3.0. The findings contribute a translated and validated instrument for further empirical researches, and insights for moulding more effective financial inclusion policies in the future.