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Published in:
2023 | OriginalPaper | Chapter
2. Key Drivers and Challenges for Financial Inclusion
Authors : Vinay Kandpal, Deep Chandra, Narendra N. Dalei, Jatinder Handoo
Published in: Financial Inclusion in Circular Economy
Publisher: Springer International Publishing
Abstract
The purpose of this research is to identify aspects crucial to financial inclusion in developing economies such as India, as well as to demonstrate the impact of financial inclusion on socio-economic growth. Financially literate people are more likely to make sound financial decisions. “Access to Information and Investment Purpose”, “Investment Performance”, “Financial Socialization”, “Usage of Financial Products and Services”, “Expectation from SHGs and NGOs”, “Perceived Benefits from Investment”, “Future Expected Performance of Financial Instrument”, “Financial Education”, “Issues and Challenges in Financial Technology”, “Social Inclusion”, “Financial Literacy and Awareness”, “Short Term Planning”.
This study would be beneficial globally because the UN SDGs emphasise inclusive growth that leaves no one behind. It addresses topics such as gender, women’s empowerment, poverty, and improvements in infrastructure amenities such as banking, hospitals, and schools, to name a few. A country can develop economically and socially if its vulnerable sections become financially self-sufficient. Sustainable development is possible when resources are equitably available and accessible to all people, regardless of gender disparities. Despite various socioeconomic changes worldwide, women continue to be among the most vulnerable people, unable to access resources on par with males.
