8_FinancialService_6MinDream

Project Name: Financial Service
Team Number: 8
Team Name: KRAPS
Ankit Agrawal (408/15)
Karmendra Jain (428/15)
Piyush Mehta (439/15)
Rahul Sethia (443/15)

The Problem Statement: Finding a link between the access to financial services and the various barriers in building an inclusive financial system.

Data Source: Finance for All? Policies and Pitfalls in Expanding Access, World Bank, November 13, 2007 data link

The Benefit/ Utility: The potential relation between the barriers and the access to financial service can help various countries who have a lower percentage access to financial services in building an effective policy. The relation among the higher access to financial services in certain countries can be used as a model to make effective changes in the countries where these barriers are high and thereby help the population in general because a well-functioning financial system and a vigorous private sector are important drivers of growth and poverty reduction
We would like to indentify how an effective financial system contributes to economic development and identifying which policies work best to improve the efficiency, stability, and reach of the financial system in developing countries. This will help the Governments to strengthen the institutions and help in the growth process such as promoting entrepreneurship, innovation and the process of technology adoption.

Expected Outcomes: We expect that there will be a higher level of access of financial services and lesser barriers among the developed countries like France, USA, UK , while it will be significantly lower among underdeveloped countries like Tanzania ,Liberia etc.
We are also expecting that the countries having higher level of access of financial services will have higher penetration of branches and ATM of financial institutions and lower barriers to loan services. There might be several other factors that will affect the access to financial services.