IDEAS home Printed from https://ideas.repec.org/a/sae/revdev/v29y2024i2p198-219.html
   My bibliography  Save this article

Understanding Financial Inclusion and Its Socio-economic Determinants: Evidence from India

Author

Listed:
  • Binod Kumar Behera

Abstract

In recent years, financial inclusion has garnered widespread attention among academics and policymakers across developing countries, including India. This article aims to understand financial inclusion and analyse the factors that determine it using micro-level data from the Financial Inclusion Insight Survey 2018 for India. It applies a probit model to explore the influence of demographic and socio-economic factors on financial inclusion. The empirical findings of this study show that the probability of being financially included increases with education, income, property ownership, government welfare benefits, financial literacy and having a PAN card. Conversely, this study also reveals that females, individuals with lower socio-economic status, illiterate, those with no formal education, unemployed and homemakers are less likely to achieve financial inclusion. Hence, targeted policies and interventions are needed to overcome disparities and ensure improvement in the financial inclusion status for marginalised groups.

Suggested Citation

  • Binod Kumar Behera, 2024. "Understanding Financial Inclusion and Its Socio-economic Determinants: Evidence from India," Review of Development and Change, , vol. 29(2), pages 198-219, December.
  • Handle: RePEc:sae:revdev:v:29:y:2024:i:2:p:198-219
    DOI: 10.1177/09722661241290372
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/09722661241290372
    Download Restriction: no

    File URL: https://libkey.io/10.1177/09722661241290372?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    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:sae:revdev:v:29:y:2024:i:2:p:198-219. 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: SAGE Publications (email available below). General contact details of provider: .

    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.