Problems Facing the Establishment of Banks In Rural Areas of Lundazi District of Eastern Zambia.

Registration ID: IJNRD_183493

Published ID: IJNRD2210112

DOI: Click Here to Get

Mr. Follence Chilonge , Dr .S. Thandayuthapani

FISF:Financial Inclusion Support Frame work (World Bank) MNO:Mobile Network Operator P2G: Person-to-Government G2P: Government-to-person RFPS: Rural Finance Policy and Strategy

Banks play a very important role in the economic development of the country and banking system is called as the backbone of the economy. In spite of the rural population being 60% of the Zambia’s productive population, banks in the rural Zambia are not operating in them, sitting their own reasons for doing so. This paper focuses on the reasons faced by commercial banks for not operating in rural areas of Lundazi District. This research paper is based on primary and secondary data. Sample of 100 respondents were studied in rural areas of Lundazi District. This paper revealed some reasons why commercial banks shun operating in the rural parts of Lundazi District such as: network platforms for digital financial services in the country, which limits uptake. However, the most widely cited reason for not using digital financial services in the country is related to knowledge about how to use the services. Other challenges include, but are not limited to, the cost of using the services, little confidence in the security and privacy of the systems, low transaction thresholds, inadequacies in the product design, and a general preference for using cash as opposed to digital payments.

Published Paper   E-Certificate

Mr. Follence Chilonge & Dr .S. Thandayuthapani (October-2022). Problems Facing the Establishment of Banks In Rural Areas of Lundazi District of Eastern Zambia.. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 7(10), 932-942. https://ijnrd.org/papers/IJNRD2210112.pdf

Volume 7 Issue 10, October-2022

Pages : 932-942

Paper Reg. ID: IJNRD_183493

Published Paper Id: IJNRD2210112

Downloads: 000121988

Research Area: Engineering

Country: -, -, Zambia

Published Paper PDF: https://ijnrd.org/papers/IJNRD2210112.pdf

Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2210112

Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)

ISSN: 2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar | ESTD YEAR: 2016

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