Footnote:
In: IJRAR- International Journal of Research and Analytical Reviews, VOLUME 6, ISSUE 2, APRIL – JUNE 2019
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments May 18, 2019 erstellt
Description:
An economy’s development is highly dependent on the pattern of inclusive growth. Financial stability can be made possible in an economy only when the citizens of a nation are financially sound and secure. Achieving financial inclusion is the first step towards achieving the objective of financial stability and inclusive growth. Financial Inclusion refers to the phenomenon where a nation aims at including all the sections of a society within the purview of the availability of financial credit system and the other facilities extended by the system. The study aims at statistically identifying the factors that significantly impact financial inclusion in India. Moreover the paper also tries to assess if the role of formal literacy is as high as that of financial literacy for India to be called a financially inclusive country with the help of an exhaustive study of the existing literature. Apart from literacy, this study also focuses on discussing the extent to which digitization in the recent times has supported the phenomenon of financial inclusion to escalate