TRADITIONAL FINANCIAL PRACTICES VS. MODERN BANKING AMONG TRIBALS IN MANANTHAVADY TALUK: A COMPARATIVE STUDY

Abstract : This study explores the contrast between traditional financial practices and modern banking systems among tribalcommunities in Mananthavady Taluk, Wayanad District. With the increasing integration of digital financial services in rural areas,understanding the preferences, accessibility, and challenges of these communities is essential. This comparative study seeks toexamine the utilization, benefits, and limitations of both financial systems among the tribal population. Using primary data collectedthrough a structured questionnaire, the study investigates how traditional practices like community-based lending, informal savingsgroups, and barter systems compare with modern banking services such as savings accounts, mobile banking, and digitaltransactions. The research also aims to identify the factors influencing the adoption of modern banking, such as digital literacy, trustin financial institutions, and accessibility of banking services. Through this study, the researcher aims to contribute to theunderstanding of financial inclusion in tribal regions and suggest strategies for promoting the adoption of formal banking serviceswhile respecting traditional financial practices.Index Terms: Traditional Financial Practices, Modern Banking, Tribal Communities, Financial Inclusion, Digital Literacy,Financial Security, Accessibility, Wayanad District