Financial Inclusion as a Tool for Social Equity: A Focus on the Elderly and Underprivileged
subject: Digital literacy; Economic development; Financial inclusion; Inclusive banking; Sustainable development goals
description: Financial inclusion is a key element in reducing poverty and promoting economic growth, particularly for vulnerable groups such as the elderly and the poor. This article explores the multiple barriers that these groups face in accessing financial services, including economic constraints, discrimination, and lack of identification and credit history. The report highlights the special challenges that older people face due to limited mobility and digital literacy. The study emphasizes the importance of a multi-faceted policy approach to improving financial inclusion, including developing simplified financial products, expanding financial literacy programs, and working with NGOs. The paper focuses on effective strategies and proposes interventions aimed at empowering these populations and improving their access to financial resources, ultimately supporting economic stability and reducing inequality. The findings highlight the need for policymakers and financial institutions to work together to address systemic barriers that impede the financial autonomy of vulnerable groups. The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2026.
creator: Joseph, Jasmin; Philip, Samuel; Siby, Amala
source: Lecture Notes in Networks and Systems;Volume;1525 LNNS;pp.283-290
publisher: Springer Science and Business Media Deutschland GmbH
date: 01-01-2026
rights: Restricted Access; Hardcopy may be available in the library
relation: ISSN: 23673370; ISBN: 978-981969047-3;
language: English
type: Conference paper
coverage: Joseph J., CHRIST University, Bengaluru, India; Philip S., CHRIST University, Bengaluru, India; Siby A., CHRIST University, Bengaluru, India