Despite high level of awareness, consumption of financial services among women is very low: Survey
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Insurance awareness among women, especially in the 18-35 age group, to increase to 29 per cent in 2022, but consumption still at 1 per cent, according to a survey by the Reserve Bank Innovation Hub (RBIH), a subsidiary of the Reserve Bank of India (RBI). is less than.
About one-third of women are aware of insurance products and services, but less than one percent of these do not buy these products through digital means. This has been concluded in a study. Insurance awareness among women, especially in the 18-35 age group, to increase to 29 per cent in 2022, but consumption still at 1 per cent, according to a survey by the Reserve Bank Innovation Hub (RBIH), a subsidiary of the Reserve Bank of India (RBI). is less than. In insurance, she gives priority to life insurance and health insurance.
The findings are based on information from 5,000 retail stores where women in this age group avail financial transactions. The survey also found that cash withdrawal, mobile recharge and bill payment are the top three most commonly used services by women at such retail stores. Other preferred services include PAN card application, entertainment, e-commerce and travel. Despite every effort by the government and the Reserve Bank to discourage cash from the economy, its hold remains strong. Around 48 per cent of the women surveyed said they prefer to transact in cash.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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