Assessment of financial inclusive policy in Indian economy

Sharma, Dipasha; Bhattacharya, Sonali; Thukral, Shagun

doi:10.1108/ijoes-11-2017-0211

Cited by 7 publications

(4 citation statements)

References 24 publications

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“…The study also finds that for female-headed households, education and wage are important factors explaining the access to finance, whereas, political and social factors are more relevant for explaining the use of finance. Sharma et al (2018) analyzes the factors, which promote the PMJDY scheme. The results show that infrastructure such as road is the most significant factor explaining the outreach of the PMJDY scheme.…”

Section: Introductionmentioning

confidence: 99%

Financial inclusion determinants and impediments in India: insights from the global financial inclusion index

Dar

Ahmed

2020

JFEP

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Purpose The purpose of this paper is to understand the determinants of financial inclusion and the determinants of barriers to financial inclusion in India. Also, the purpose is to ascertain the determinants of informal financial activities in India. Design/methodology/approach The data have been collected from the Global Findex Database (Findex) 2017. Various measures of financial inclusion, namely, ownership formal accounts, use of accounts for saving and borrowing, ownership and use of the debit card are used. The independent variables used are: age, income, education and gender. Given the binary nature of dependent variables, this paper uses the Probit model to draw the inferences. Findings The results show that gender, age, education and income have a significant impact on the various measures of financial inclusion. Additionally, these factors have a significant impact on the informal saving and borrowing. Research limitations/implications The given study uses the deferent measures of financial inclusion. An index of financial inclusion created using all the financial inclusion measures would be a better indicator of financial inclusion. Practical implications The results of this study would be useful for policymakers to identify the determinants and barriers of financial inclusion in India. The results show that policymakers should focus on the female population, in particular, and education and income enhancing measures, in general, to make financial inclusion more inclusive. Originality/value The study is the first of its kind to analyze financial inclusion in India using the Findex. Unlike previous studies, variables such as education and income are constructed more pragmatically. In particular, the study tries to understand the socio-economic determinants of financial inclusion measured as ownership of formal accounts, formal saving, formal credit, ownership of debit cards and use of debit cards. The study also analyzes the determinants of barriers to financial inclusion, savings (formal and informal) and borrowing (formal and informal).

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Section: Introductionmentioning

confidence: 99%

Financial inclusion determinants and impediments in India: insights from the global financial inclusion index

Dar

Ahmed

2020

JFEP

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“…12. A Look at the Indian Economy's Financial Inclusive Policy; Sharma, Bhattacharya, and Thukral (2018) and the success of the PMJDY. They found that socio-economic, environmental, and educational factors play a key part (Sharma et al, 2018).…”

Section: Examining the Effects Of Drivers Of Financial Inclusion Sust...mentioning

confidence: 99%

Deciphering the Influence of PMJDY on Financial Inclusion and Development Sustainability

2024

resmil

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Using a method based on secondary data analysis, this paper looks at the important topic of Financial Inclusion in India through the lens of sustainability. The study uses a lot of reliable sources, like government websites, RBI reports, NABARD papers, IBA Bulletins, academic journals, magazines, and bank websites to give a full picture of the present state of financial inclusion in India. It focuses on sustainable financial practises and looks at how inclusion fits in with the social, economic, and environmental aspects of sustainability. One of the most important things about secondary data is that it is useful for giving a history and broad-based view. It is also easy to find and doesn't take a lot of time or money. It does talk about the problems that come with using extra data, like making sure it is relevant, keeping the data safe, and being up to date. The paper carefully puts together data from many different sources to give a full picture of India's long-term financial inclusion situation, highlighting both its successes and areas that need more work. The study's results show that India's financial sector has a lot of possibilities and problems, especially when it comes to sustainability. They also lay the groundwork for future research and policy changes.

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“…A significant body of work is available to present the determinants of financial inclusion in India. For instance, branch networks (Kumar 2013), self-help groups and education (Bhanot et al 2012); socioeconomic factors (Clámara et al 2014;Rastogi and Ragabiruntha 2018); domestic agriculture to gross domestic product (GDP), literacy ratio, population density, and urbanization (Yadav and Sharma 2016); economic growth (Sharma 2016); bank branch quantity, and credit deposit ratio on GDP (Iqbal and Sami 2017); infrastructure (Sharma et al 2018); poverty and inequality (Erlando et al 2020); and social safety (Didenko et al 2020). People are being helped to escape poverty and are being connected to economic opportunities through formal financial services, including those that may be accessed over the phone.…”

Section: Introductionmentioning

confidence: 99%

Financial Inclusion and Its Ripple Effects on Socio-Economic Development: A Comprehensive Review

Mishra,

Kandpal,

Agarwal

et al. 2024

JRFM

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This study provides an overview of the different dimensions of financial inclusion, its socioeconomic impacts on society’s sustainable development, and future research agendas. Initially, 620 studies were identified using Scopus and other databases, employing keywords such as financial literacy, financial inclusion, financial capability, women’s empowerment, fintech, artificial intelligence, financial accessibility, sustainable development goals, and economic growth. After refinement based on focus and relevance, 325 papers were analyzed in detail for review, primarily focused on India and emerging economies. This review highlights that access to finance by untouched segments of society is essential for sustainable and socio-economic development in developing economies. The official banking system, an effort by the government to assist the financially disadvantaged, can incorporate the impoverished into a formal financial system through campaigns and credit system reforms. Socioeconomic programs reinforce one another and foster the development of children, women, families, and society. This research paper undertakes a systematic literature review primarily focused on relevant articles in broad areas of financial inclusion and its impact analysis and offers a valuable agenda for future research.

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Assessment of financial inclusive policy in Indian economy

Cited by 7 publications

References 24 publications

Financial inclusion determinants and impediments in India: insights from the global financial inclusion index

Financial inclusion determinants and impediments in India: insights from the global financial inclusion index

Deciphering the Influence of PMJDY on Financial Inclusion and Development Sustainability

Financial Inclusion and Its Ripple Effects on Socio-Economic Development: A Comprehensive Review

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