The Role Of Social Banking Initiatives In Promoting RuralGrowth: A Case Study Of Baroda Rajasthan Kshetriya Gramin Bank (Brkgb) In Sikar And Nagaur Regions
DOI:
https://doi.org/10.66635/kg2w3f13Keywords:
Social Banking Initiatives, Financial Inclusion, Agricultural Credit Access, Employment Generation, Baroda Rajasthan Kshetriya Gramin Bank (BRKGB)Abstract
The purpose of this research was to evaluate the contribution of social banking by Baroda Rajasthan Kshetriya Gramin Bank (BRKGB) on the growth of rural economy especially in Sikar and Nagaur districts of Rajasthan in terms of financial inclusion, agricultural credit facilities and employment opportunities. The research utilized both qualitative and quantitative research on the effectiveness of the interventions of BRKGB. In the quantitative phase, a sample of 350 respondents was determined by stratified random sampling for structured survey. Descriptive statistics, SEM, and regression analysis were employed in order to examine the significant rural development measures and the effects of social banking initiatives on financial and credit accessibility, as well as employment opportunities. The qualitative phase included the use of in-depth interviews with officials of the banks, beneficiary rural folks, key informants, and FGDs to understand further the experience of the target population. The results revealed positive effects of BRKGB’s activities on all the three sectors, especially in employment generation and credit to agriculture. Financial services and products also fared better as despite the problems like low level of financial literacy and unequal access to financial services. The qualitative data also supported the need for specially designed financial services, fair credit and increased business development services for the rural based entrepreneurs. To uphold the principle of professionalism, issues of ethics were considered in as much as participants’ consent was sought and anonymity of participants upheld. By and large, this research contributes to the understanding of the impacts of social banking strategies in support of rural development and outlines the potential solutions to the issues that may hinder the success of these programs.
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