Measuring Financial Inclusion in India: An Approach
- Title
- Measuring Financial Inclusion in India: An Approach
- Creator
- Kapoor S.; Mohandas V.
- Description
- In light of the COVID-19-induced financial crisis, the need for robust financial services and networks has become more apparent than ever, which necessitated the accurate measurement of the breadth of financial inclusion in India. First, the study conducted a detailed critical review of the current indices and their construction methodology. Then, we created a financial inclusion index for India by accounting for the flaws existing in the current indices. The primary contribution of this study to the existing literature is the new approach it proposed for the assignment of weights in the financial inclusion index. Based on this new financial inclusion index, the study concluded that Indias Southern states and union territories showed better financial inclusion. In contrast, the traditionally backward BIMARU states of Bihar, Madhya Pradesh, Rajasthan, and Uttar Pradesh, and a few of the North Eastern states of India, lagged. The study also provided a refined and inclusive definition of financial inclusion based on its new approach to index creation. 2023, Associated Management Consultants Pvt. Ltd.. All rights reserved.
- Source
- Indian Journal of Finance, Vol-17, No. 1, pp. 27-46.
- Date
- 2023-01-01
- Publisher
- Associated Management Consultants Pvt. Ltd.
- Subject
- financial development; financial inclusion; financial inclusion index; financial institutions; financial literacy
- Coverage
- Kapoor S., TSDPS, Planning Department, Government of Telangana State, Telangana,, Hyderabad, 500 004, India; Mohandas V., Department of Economics, CHRIST (Deemed to be University), Yeshwanthpur Campus, Karnataka, Bengaluru, 560 073, India
- Rights
- Restricted Access
- Relation
- ISSN: 9738711
- Format
- Online
- Language
- English
- Type
- Article
Collection
Citation
Kapoor S.; Mohandas V., “Measuring Financial Inclusion in India: An Approach,” CHRIST (Deemed To Be University) Institutional Repository, accessed February 26, 2025, https://archives.christuniversity.in/items/show/14703.