IDEAS home Printed from https://ideas.repec.org/a/ids/gbusec/v31y2024i3p330-353.html
   My bibliography  Save this article

Financial inclusion: key determinants and its impact on financial well-being

Author

Listed:
  • Jitender Kumar
  • Anjali Ahuja

Abstract

The present study highlights the key determinants of financial inclusion (access, technology, financial literacy, affordability, and trust) and its impact on the financial well-being of low-income respondents in India. Through self-administered questionnaires, we collect data using convenience-cum-judgemental sampling from 404 low-income respondents of the National Capital Region of India. The study uses factor analysis to identify the key determinants of financial inclusion and its impact on financial well-being. We use partial least squares structural equation modelling to examine the framed hypotheses. The study demonstrates five key determinants of financial inclusion, i.e., access, affordability, financial literacy, technology, and trust. These five factors drive a 78.70% (coefficient of determination, R2) variation in financial inclusion. Further, financial inclusion influences a 27.1% variation in financial well-being. The study's outcome will facilitate academics, policymakers, aspiring researchers, and the general public to ensure the financial well-being of low-income respondents through financial inclusion activities.

Suggested Citation

  • Jitender Kumar & Anjali Ahuja, 2024. "Financial inclusion: key determinants and its impact on financial well-being," Global Business and Economics Review, Inderscience Enterprises Ltd, vol. 31(3), pages 330-353.
    • Handle: RePEc:ids:gbusec:v:31:y:2024:i:3:p:330-353
    as

    Download full text from publisher

    File URL: http://www.inderscience.com/link.php?id=140847
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ids:gbusec:v:31:y:2024:i:3:p:330-353. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sarah Parker (email available below). General contact details of provider: http://www.inderscience.com/browse/index.php?journalID=168 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.