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Abstract

A key assumption in economics is that economic growth brings prosperity to all sections of the society in an equitable manner. Historically, economic growth is not associated with equitable distribution of wealth. Governments all over the world make policies and implement them to engineer an equitable distribution of wealth. Financial exclusion is the single most important factor which can keep poorer sections of the society away from the benefits of economic growth. Financial inclusion creates a window of opportunity for poor sections of society to take part in the economic prosperity brought in by economic growth. A financially inclusive society is where all financial products and services are available without difficulty at affordable cost. The Indian government has put policies in place to encourage financial inclusion by making financial products and services available to disadvantaged sections of the society. Jan Dhan Yojana to open bank accounts with zero balance, Aushyaman Bharath Yojana for medical insurance, Atal Pension Yojana for income after retirement, and Sukaya Samruddhi Yojana for supporting a girl child are a few of the schemes promoted by government for encouraging financial inclusion of the poorer sections of the society. Poor people residing in urban areas come to the city in search of a livelihood. They struggle to manage household expenses and some unforeseen events create a burden on their financial resources. Women in the family also participate in the workforce to support the family; many of them work as household domestic workers. The present study has been undertaken to assess the awareness regarding these initiatives among domestic workers in the city of Bengaluru. As per the report released by Bangalore Gruhakarmika Sangha (BBGS) and Manegelasa Kaarmikara Union, there are four lakh domestic workers in Bengaluru and the majority of them are women. Primary data has been collected using in-depth interviews. It is found that the awareness level with respect to government initiatives is not satisfactory.

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