Abstract
In the beginning of the 19th century, there were only a few banks and that too in big towns and cities. It was very
difficult for the common man who wanted to save his small amount of money in the bank to go to a bank as he had to incur expenditure for the journey. Further, saving habit amongst the people was almost nil, and most of the people had their small savings in the form of gold and silver. On the other hand, the Government wanted to encourage savings because they were in dire need of money for various developmental activities, for strengthening military establishments and for carrying out administrative reforms. These factors compelled the Government to start Savings bank through the Post Office. The results, arrived at through a statistical analysis, showed that the pivotal catalysts determining the decisions whether to invest in the small savings schemes were: gender, age, level of income, family size and income, financial literacy. The relevance of the finding of the study in terms of policy-making has been highlighted.
Keywords: NREGA Workers, Small Savings Schemes, Financial inclusion.
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