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Financial awareness: a bridge to financial inclusion

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  • Rishi Kumar
  • D. C. Pathak

Abstract

Financial inclusion, which means access to formal financial services for the whole population is India's important policy objective. In this paper, we examine the association between financial awareness and financial inclusion. Using statistical association tests on the primary data, collected from 200 respondents in Nalgonda and Medak districts in Telangana, India, we find that financial awareness is significantly associated with financial inclusion. Regression analysis shows that more financial awareness is associated with a higher level of financial inclusion. We also observe that factors, including being female and having a lower level of education and income, are related to lower financial inclusion.

Suggested Citation

  • Rishi Kumar & D. C. Pathak, 2022. "Financial awareness: a bridge to financial inclusion," Development in Practice, Taylor & Francis Journals, vol. 32(7), pages 968-980, October.
    • Handle: RePEc:taf:cdipxx:v:32:y:2022:i:7:p:968-980
    DOI: 10.1080/09614524.2022.2028731
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    Cited by:

    1. Aurelien K. Yeyouomo & Simplice A. Asongu, 2022. "Fintechs and the financial inclusion gender gap in Sub-Saharan African countries," Working Papers of The Association for Promoting Women in Research and Development in Africa (ASPROWORDA). 22/018, The Association for Promoting Women in Research and Development in Africa (ASPROWORDA).
    2. Ozili, Peterson K, 2023. "The Future of Financial Inclusion," MPRA Paper 118800, University Library of Munich, Germany.
    3. Elida Elfi Barus & Murah Syahrial & Evan Hamzah Muchtar & Budi Trianto, 2024. "Islamic Financial Literacy, Islamic Financial Inclusion and Micro-Business Performance," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 19(1), pages 1-24, Enero - M.
    4. Maren Duvendack & Lina Sonne & Supriya Garikipati, 2023. "Gender Inclusivity of India’s Digital Financial Revolution for Attainment of SDGs: Macro Achievements and the Micro Experiences of Targeted Initiatives," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 35(6), pages 1369-1391, December.

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