Perceived Impact of Financial Inclusion Schemes and Income level: Empirical Evidence from Haryana

Background: It was noted that many countries have revealed ad-equate increase in terms of including its citizens in main financial streamline; however, it is a matter of investigation how people in India perceive the impact of financial inclusion schemes offered by government agencies.

Purpose: The present study aims to study the perceived effect of financial inclusion schemes; and to link the perceived effect of financial inclusion schemes with income level of Haryana re-spondents.

Methods: For this, the study has collected data from 400 respond-ents that were used in the final data analysis and this sample size seems to be truly representing the select state’s population. The researcher considered 6 administrative divisions of all districts in data collection. To make sure rural and urban areas, as well as men and women, are equally represented, the sample size was divided according to Census 2011 distribution.

Results: Findings of the study indicated that Haryana people have positive perceptions towards the impact of financial inclusions schemes. Findings highlighted that financial inclusion schemes have significantly improved social status; self-efficacy; financial status; and self-respect and self-confidence among Haryana peo-ple.

Conclusions: The study concluded that higher income respondents have greater social status; better self-efficacy; increased financial status; and improved self-respect and self-confidence in compari-son to lower income respondents.