A Critical Study In Understanding The Critical Barriers To Financial Inclusion Among Youths With Special Referece To Thanjavur City

Abstract

In recent years, there has been a rising interest in the scientific community in the process through which children develop into adults. There is a growing demand for financial goods and services while the transformation is taking place. The lack of financial participation has the potential to have long-term repercussions for the level of independence and stability that individual enjoys in the years to come. The primary objective of this study is to investigate and assess the reasons that prevent young people in Thanjavur city in South India. The findings of the research are presented in the form of suggestions that have as their overarching objective the improvement of the group in question's social inclusion and which are targeted at boosting the group's financial inclusion. The results of the research indicate that the lack of a bank account may commonly be linked to either a family member already owning a bank account or inadequate financial means to access financial services. Both of these explanations are supported by the findings of the study. According to the findings of the research, there is a considerable connection between the need of using formal financial services and the ownership of a bank account. In addition, the study discovered a significant correlation between a student's financial awareness and their ownership of a bank account, debit card, and credit card. This was a very interesting finding. The results of the research may be exploited by decision-makers in the city's economic and social policy-making processes in order to build successful policies and strategies.