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The determinants of Financial Inclusion and Digital Financial Inclusion in India: A Comparative Study


  • Srinivasu Bathula
  • Ankita Gupta


The access to the financial services and digital financial services in India has not yet transformed into their frequent use. Therefore, the present paper provides a comparative analysis of the individual level determinants for few main indicators of the two main dimensions of financial inclusion and digital financial inclusion: access and use, based on binary probit regression analysis using World Bank’s 2017 Global Findex data. The paper concludes that education and workforce participation are positively associated with the access to financial services and digital financial services and also with the use of most of the financial services and digital financial services. Another interesting result is that being a woman and poor reduces the probability of using mobile banking but do not affect traditional banking.

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  • Srinivasu Bathula & Ankita Gupta, 2021. "The determinants of Financial Inclusion and Digital Financial Inclusion in India: A Comparative Study," The Review of Finance and Banking, Academia de Studii Economice din Bucuresti, Romania / Facultatea de Finante, Asigurari, Banci si Burse de Valori / Catedra de Finante, vol. 13(2), pages 109-120, December.
  • Handle: RePEc:rfb:journl:v:13:y:2021:i:2:p:109-120

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    References listed on IDEAS

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    4. Ms. Sumiko Ogawa & Purva Khera & Miss Stephanie Y Ng & Ms. Ratna Sahay, 2021. "Is Digital Financial Inclusion Unlocking Growth?," IMF Working Papers 2021/167, International Monetary Fund.
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