AN IMPACT OF FINANCIAL INCLUSION IN VILLAGES OF WEST BENGAL: A STUDY OF LEGO GRAM PANCHAYET, BANKURA

Financial inclusion we mean inclusion of all families in the organised banking network, then financial inclusion has been achieved in this gram panchayat. The maximum savings bank accounts are opened for getting payment for MGNREGA project, student scholarships from school, Kanyashree from school and college college or getting subsidies for LPG. A minimum number of savings accounts are opened otherwise and for micro savings or getting bank loans. Most of the villages under Lego Gram Panchayat have at least one savings bank account in Mallabhum Gramin Bank , Bankura District Central Co-operative Bank or Punjab National Bank, or State Bank of India, or Bank of India or Post Office Savings Bank of Lego Post Office. Now consider how many people are utilised banking services for their livelihood? Whether their standards of living improved due financial inclusion, or whether they get more loans from banks for meeting their needs or whether their savings have been deposited with the banks-these are some questions which need to be investigated to know the real impact of financial inclusion. The main purpose of the present paper is to find out the factors that stand in the way of getting the full benefits of financial inclusion in village of the study area of West Bengal.