A Critical Analysis to Encourage Personal Savings in Jana Small Finance Bank

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@article{1704746,
      author = {Tanmay Chaturvedi, Dr. Suresh Kumar Pattanayak},
      title = {A Critical Analysis to Encourage Personal Savings in Jana Small Finance Bank},
      journal = {Iconic Research And Engineering Journals},
      year = {2023},
      volume = {6},
      number = {12},
      pages = {934-942},
      issn = {2456-8880},
      url = {https://www.irejournals.com/formatedpaper/1704746.pdf},
      abstract = {Financial institutions like Jana Small Finance Bank are constantly looking for new and creative methods to encourage saving habits among their consumers since it is crucial for overall financial well-being. The research objective is to identify, innovative and effective strategies that Jana Small Finance Bank could implement to encourage personal saving, the current personal saving habits of Jana Small Finance Bank customers, develop and implement innovative strategies that effectively motivate customers to save more money. The value and possible effect of these techniques for Jana Small Finance Bank are shown by this analysis. The study suggests a variety of novel tactics that Jana Small Finance Bank might use in light of the findings. These include of using gamified savings applications, running seminars on financial health, delivering automated savings boosts, starting savings clubs, creating tailored savings programmes, and using vendor alliances. To guarantee realistic adoption within the bank's operating framework, each proposal is assessed for viability and cost-effectiveness. Ultimately, by embracing innovative ways to encourage personal savings, Jana Small Finance Bank can empower its customers to develop strong savings habits, achieve financial security, and work towards their long-term financial aspirations. This abstract serves as a guide for Jana Small Finance Bank to design and implement effective and sustainable approaches that foster savings behaviour and contribute to the financial well-being of its customers.},
      keywords = {Personal Savings, Financial Well-Being, Innovative Strategies, Financial Institutions, Customer Savings Behaviour},
      month = {June},
  }