Financial Inclusion in India: Does Distance Matter?

Ghosh, Saibal

doi:10.1177/1391561420961649

Cited by 7 publications

(5 citation statements)

References 38 publications

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“…These findings support those of Jack and Suri (2014). Other studies in this field have investigated the effects of the digitalization of social support programs for the less fortunate (Ghosh 2020;Masino and Niño-Zarazúa 2018).…”

Section: Reviews Of Literaturesupporting

confidence: 80%

The Impact of Fintech and Digital Financial Services on Financial Inclusion in India

Asif

Khan

Tiwari

et al. 2023

JRFM

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India’s financial inclusion has significantly improved during the last several years. In recent years, there has been a rise in the number of Indians who have bank accounts, with this figure believed to be close to 80% at present. Fintech businesses in India are progressively becoming more noticeable as the Government of India (GoI) continues to strive for expanding financial services to the underbanked sector of the population. To reach the underbanked segments of the population and provide a stable operating environment for fintech businesses, India must seek to increase financial inclusion. In this study, regression and correlation were employed, together with secondary data gathered from the RBI, to analyze this influence. The aim was to determine the impact of fintech and digital financial services on financial inclusion in India. According to the results, fintech businesses have significantly aided financial inclusion in this nation, especially for the middle class. These findings will be helpful for policy-makers working hard to bring every individual in this country into an organized financial system.

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Section: Reviews Of Literaturesupporting

confidence: 80%

The Impact of Fintech and Digital Financial Services on Financial Inclusion in India

Asif

Khan

Tiwari

et al. 2023

JRFM

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“…As with all of these types of empirical exercises, it may be that there are omitted variables which influence our findings. However, the numbers of variables we employ and the numbers of observations we have to hand is more than comparable to other surveybased papers in the field (Dupas et al 2018;Ghosh 2020), our results are stable to the inclusion or exclusion of individual variables, and our results in general make good sense, so taken together we can have confidence in the results.…”

Section: Discussionsupporting

confidence: 74%

“…Yet, we still lack clear evidence as to what determines the low level of financial inclusion of the poor in general, and their lack of access to savings instruments in particular, and the extent to which being in an urban area or a rural area also shapes access to formal banking systems. There have been a couple of attempts (Dupas et al 2018;Ghosh 2020) at including the role of geography in financial inclusion in developing countries, but until now, no-one has explicitly investigated the urban and rural dimensions of this issue.…”

Section: The Urban and Rural Geography Of Saving In An Emerging Econo...mentioning

confidence: 99%

“…The model does not have random intercepts or slopes, but instead the nested subsets reflect differential variance clusterings. As such, given the nature of our data, we use a different, but complementary approach to that of Ghosh (2020), and one which allows us to exploit the spatial heterogeneity between Indonesian provinces influencing both household and individual behaviour.…”

Section: Econometric Modelsmentioning

confidence: 99%

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The Geography of the Banking System, Migration, Remittances and Financial Inclusion: Evidence from Indonesia

Titissari

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This dissertation studies the interaction between the geography of the banking system, internal migration and remittances flows, and the use of financial services in the context of Indonesia. Chapter 2 studies the role of financial inclusion in the development process in Indonesia. The results suggest that financial access is significantly and positively associated with the regional economic level of development in Indonesia, controlling for the general economic circumstances and development level of the region. Chapter 3 examines how different aspects of location and economic geography may influence individuals' savings behavior in the formal banking system, controlling for individual-specific characteristics, with a clear focus on the differences between urban and rural areas in a developing country setting.Using data from the Indonesian Household Balance Sheet Survey 2015, the study applies multilevel logistic regression and finds that spatial factors and the general regional economic circumstances influence saving behaviour over and above individual characteristics. Chapter 4 investigates the relationship between the patterns of intra-country migration and individual remittances.By using multilevel models on detailed data of individuals from the Indonesia Family Life Survey 2015, the results show that domestic remittances flow from as well as towards migrants and depend on the destination of, and motive for, migration. Chapter 5 examines individual engagement with the formal banking system in relation to migration and domestic remittances. The study demonstrates that engaging in internal remittances -controlling for the destination of, and motive for, migration -is positively associated with use of financial services, as measured by savings. Moreover, the role of these variables depends on the position of the individual within the household.

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“…Visiting a long-distance bank to access banking services always involves high monetary and time cost. The monetary cost due to long distance is directly associated with the number of transactions the customer wishes to do with the bank (Ghosh, 2020). For example, people like small business owners, street vendors, and small shopkeepers are often more likely to visit the bank for their financial transaction, but when they face hurdles because of the long distance, they obviously tend to reduce their number of visits to the bank.…”

Section: Description Of Explanatory Variables For Supply-side Determi...mentioning

confidence: 99%

Demand-Side and Supply-Side Determinants of Financial Inclusion in Indian States: Evidence from Post-Liberalization Period

Barik,

Lenka

2022

Emerging Economy Studies

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An initiative of financial inclusion helps to boost the economies of poorer regions and countries. Also, greater financial inclusion is a prime driver for attaining social inclusion in most of the developing nations across the globe. So, the main purpose of this article is to investigate the determinants of financial inclusion from both demand- and supply-side variables in Indian states during the post-liberalization periods (1993–2015). Furthermore, the study uses different econometric models such as fixed effect, random effect, panel-corrected standard errors, and feasible generalized least squares for analysis purpose. The empirical findings of this study suggest that among the demand-side factors, literacy and per capita state GDP have a positive impact on financial inclusion, whereas other two variables like rate of unemployment and percentage of rural population have a negative impact on financial inclusion. Likewise, from the supply-side factors, our empirical findings depict that all four variables (i.e., road length, electricity supply, social sector expenditure, and capital receipt) have a positive and significant effect on financial inclusion in the post-liberalized Indian states.

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Financial Inclusion in India: Does Distance Matter?

Cited by 7 publications

References 38 publications

The Impact of Fintech and Digital Financial Services on Financial Inclusion in India

The Impact of Fintech and Digital Financial Services on Financial Inclusion in India

The Geography of the Banking System, Migration, Remittances and Financial Inclusion: Evidence from Indonesia

Demand-Side and Supply-Side Determinants of Financial Inclusion in Indian States: Evidence from Post-Liberalization Period

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