Financial Inclusion As A Tool for Citizen Upliftment: Development of A Measurement Model Based on Citizen Perception
Year: 2025
Type: article
Study design: Observational Study
Abstract: Financial inclusion is a key aspect for social inclusion and inclusive growth for citizen upliftment. Effective financial inclusion is important for enhancing the involvement and access to financial services. Inclusive finance is necessary for effective, reliable, and cost-effective payments towards financial services. The current study aims to determine factors and to develop a financial inclusion measurement scale for citizen upliftment. The current study is a descriptive research with data collected from 405 responses by using non-probability convenience sampling. The data was collected using structured questionnaires with a Likert five-point rating scale and Dichotomous questions. The results revealed 6 prominent factors under financial inclusion, which were Awareness, Access and Usage, Challenges, Impact, Causes, and effectiveness of financial inclusion. The multiple regression model yielded an R Square value of 0.695, explaining 69.5% of the variance. This indicates that the Challenges, Impact, and Causes of Financial Exclusion variables have a significant impact on the output variable, which is the Effectiveness of Financial Inclusion. The provision of the Financial Inclusion Measurement Scale satisfies the promise of generalising the study findings to the stakeholders of the country. The established framework offers ideas and methodology to the appropriate government, civil society, and stakeholders, adding to the insights of the financial inclusion projects.
DOI: 10.14419/4qqpxn68
Authors: Dr. S. Shankar Kumar, Dr. G. Chandramowleeswaran, Dr. K A Harish, Dr. D Venkatesan, Dr T Shalini Rani
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
SDG: Reduced inequalities
Open Access status: bronze
OpenAlex ID: W4414409812
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