Understanding the Financial Inclusion Moderating Effect on Negative Attitude of Muslim Population towards Banking Services in Tamil Nadu, India

1F. Abubecker, Dr. Mohsin Khan and Dr. Khalid Waheed

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Abstract:

Financial inclusion, meanwhile has turn into aprogressively more important concern for a huge number of countries wide-reaching. Indian economy is growing, but ironically the rate of poor people is also increasing. The state should strive to establish an egalitarian society. However, most Indian citizens do not have access to credit. At the same time there is question arises on particular community who are unbanked and unaware about this services due to some religious faith. This paper will talk about Muslim unbanked community who avoid to use banking services due to RIBA (Interest) as it is Haram (Illegal). The study will inspect the effect of Financial Inclusion on unbanked segment of Muslim society. Moreover, fast-rising literature has materialized to inspect its measurement, elements and effects. The authors used exploratory research design for the analysis. Hence 256 sample size from Tamil Nadu state of Muslim unbanked society who is above 18 in ages has taken for the study. The cluster sampling technique has been used. T- Test, ANOVA and SEM have been used for the finding out actual result.

Keywords:

Financial Inclusion, Unbanked Community, Global Financial Development Report (GFDR).

Paper Details
Month4
Year2020
Volume24
IssueIssue 5
Pages3251-3257