scholarly journals Identification of Barriers to Financial Inclusion Among Youth

2018 ◽  
Vol 11 (7) ◽  
pp. 120
Author(s):  
Amra Babajic ◽  
Jasmina Okicic ◽  
Meldina Kokorovic Jukan
Keyword(s):  
Transition To Adulthood ◽  
Financial Services ◽  
Credit Card ◽  
Social Inclusion ◽  
Financial Inclusion ◽  
Bank Account ◽  
Research Attention ◽  
Policy And Strategy ◽  
Increasing Demand ◽  
Strategy Design

In recent years there is an increasing research attention on youth and their transition to adulthood. In that transition they have increasing demand for financial products and services. If they are not financial included it may leave long-lasting consequences for their future independence and stability.The main goal of this research is to investigate and explain barriers to poor financial inclusion of youth in Federation of Bosnia and Herzegovina (FBiH), and make some recommendations for increasing their financial inclusion, and indirectly for strengthening their social inclusion. Implications of this study suggest that the main reason for being unbanked is because someone else in the family already has an account, or because they do not have enough money to use services of financial institutions. The results have revealed statistically significant relation between need for financial services at a formal institution and having a bank account, category of students’ financial knowledge and having a bank account, having a debit card and having a credit card. Research results can serve the economic and social policy makers in the FBiH in policy and strategy design.

Banking or Under-banking: Spatial Role of Financial Inclusion and Exclusion

2021 ◽  
pp. 097300522110371
Author(s):  
Rajat Singh Yadav ◽  
Kalluru Siva Reddy
Keyword(s):  
Financial Literacy ◽  
Financial Services ◽  
Social Inclusion ◽  
Probit Model ◽  
Financial Inclusion ◽  
Spatial Density ◽  
Bank Account ◽  
Banking Services ◽  
Economic Agents

Access to bank account is only a part of the problem when we talk of financial inclusion because several people with a bank account are not necessarily using them to deposit their savings or carry out transactions. This article makes an attempt to examine the reasons for low utilisation of banking facilities. It employs financial inclusion insights (FII) data for Indian population to find out an outcome of financial inclusion (and thus social inclusion as well) based on the usage of banking services with covariates like financial literacy, the probability that any financial service is accessible to the respondent in terms distance, type of mobile phone and spatial density. We use truncated probit model to measure the incidence of under-banking. Our findings show that there is a negative association between supply-side constraints and usage of banking services, implying that low access to financial services in time and space stands as a hindrance to financial inclusion. Further, we find from the financial inclusion and exclusion map at the district level that even though economic agents intend to participate in the space in which he/she is living is not much inclusive.

How Customer Analytics and Digital Technologies Drive Banks to Understand Consumer Awareness Towards Financial Inclusion

2018 ◽  
pp. 66-85
Author(s):  
Yuvraj Sharma
Keyword(s):  
Financial Institutions ◽  
Financial Services ◽  
Digital Technologies ◽  
Financial Inclusion ◽  
Primary Data ◽  
Related Data ◽  
Customer Analytics ◽  
Clear Communication ◽  
Increasing Demand

In today's switching economy, customers' needs are changing and they are demanding more transparency, higher involvement, and clear communication in day-to-day banking processes. The rationale behind carrying out the present research is to identify the role of customer analytics in the new digital customer journey in terms of enhancing their engagement, loyalty, and satisfaction. The present research emphasizes opportunities that would accrue to financial institutions after demonetization and collecting large amount of demographics, customer transaction, and account-related data. Primary data was collected from 300 customers through a structured questionnaire to know their perceptions about the role of customer analytics and digital technologies to build their confidence and capability to use financial services. This study brings out the customer analytics trends and identifies the reasons due to which banks are struggling to keep pace with the increasing demand of both digital savvy and traditional consumers.

Effectiveness of Financial Inclusion Initiatives

2018 ◽  
pp. 48-65
Author(s):  
K. Sanal Nair ◽  
Saumya Jain
Keyword(s):  
Research Methodology ◽  
Financial Services ◽  
Credit Card ◽  
Financial Inclusion ◽  
Descriptive Statistics ◽  
Mobile Banking ◽  
Indian Government ◽  
The Past ◽  
The Government ◽  
One Way Anova

An inclusive financial system has been the major agenda of the Indian government over the past few years and several steps have been taken in this direction. The main purpose of the study is to assess the effectiveness of financial inclusion initiatives taken by Rajasthan government. A questionnaire was drafted and was sent to people from weaker section of the society who have been the beneficiaries of the financial inclusion initiative of the government. Research methodology adopted for the study includes descriptive statistics and one-way ANOVA was used to test the association/non-association between the variables. The study concluded towards lack of awareness and usage of financial inclusion initiatives, especially internet, mobile banking, and credit card. In terms of experience with financial services, respondents were positive towards interest on loans and help received by banking staff with respect to documentation and identification norms as well as branch timings. However, distance from the bank and the availability of ATM was an issue for them.

scholarly journals Innovations in emerging markets: the case of mobile money

2019 ◽  
Author(s):  
Adeline Pelletier ◽  
Susanna Khavul ◽  
Saul Estrin
Keyword(s):  
Developing Countries ◽  
Emerging Markets ◽  
Transaction Costs ◽  
Emerging Economies ◽  
Financial Services ◽  
Spillover Effects ◽  
Financial Inclusion ◽  
Legal Rights ◽  
Mobile Money ◽  
Policy And Strategy

Abstract Mobile money is a financial innovation that provides transfers, payments, and other financial services at a low or zero cost to individuals in developing countries where banking and capital markets are deficient and financial inclusion is low. We use transaction costs and institutional theories to explain the growth and impact of mobile money. Having developed a new archival dataset that tracks mobile money deployment across 90 emerging economies during 16 years between 2000 and 2015, we address the question of relative economic impact of the banking and telecoms sectors in the provision of mobile money. We show that telecom groups and not banks are more likely to launch mobile money in countries where legal rights are weaker and credit information less prevalent. However, it is when mobile money is offered via a banking channel that the spillover effects on the economy are greater. Findings have significant implications for policy and strategy.

Evaluation of Financial Inclusion in the Villages of India

2022 ◽  
pp. 39-58
Author(s):  
Nishi Malhotra ◽  
Pankaj Kumar Baag
Keyword(s):  
Qualitative Research ◽  
Grounded Theory ◽  
Financial Services ◽  
Digital Literacy ◽  
Credit Card ◽  
Financial Inclusion ◽  
Large Section ◽  
Banking Services ◽  
Adoption Of Technology ◽  
Informal Banking

Financial inclusion refers to making financial services available at the doorsteps of the citizens of India. There has been a lot of research to identify the various factors that lead to the adoption of technology for banking and availing of financial services. But there is no study on the factors that impact the adoption of technology and formal banking services in India. A large section of the population in India still uses the informal banking channel such as money lender, relatives which leads to difficulties in availing the financial services. Qualitative research and that grounded theory have been used for research. Direct interview has been used to collect data from the participants across 11 different villages. The study highlights that the level of financial and digital literacy has improved in India though the Kisan credit card scheme faces various problems in implementation.

scholarly journals Inclusión financiera femenina en México: una herramienta para su empoderamiento = Financial Inclusion for Women in Mexico: a Tool for their Empowerement

2019 ◽  
Vol 4 (3) ◽  
pp. 158 ◽  
Author(s):  
Adolfo Federico Herrera García
Keyword(s):  
Gender Equity ◽  
Gender Gap ◽  
Financial Services ◽  
Credit Card ◽  
Positive Impact ◽  
Explanatory Power ◽  
Hierarchical Cluster ◽  
Financial Inclusion ◽  
Adult Women ◽  
Las Mujeres

Resumen. El artículo analiza la inclusión financiera de la mujer y su relación con el em­poderamiento en la actual sociedad mexicana ya que cifras oficiales muestran que el 39% de las mujeres adultas tienen una cuenta bancaria y solo el 25% tienen una tarjeta de crédito, lo que enmarca una gran dependencia de las mujeres con los hombres en materia financiera. Ac­tualmente, no existe una teoría establecida sobre la inclusión financiera de la mujer, aunque si se ha puesto en relevancia la importancia de fomentarla como herramienta para lograr el em­poderamiento de grupos excluidos. Se muestra el impacto positivo de disminuir la exclusión financiera femenina en nuestro país, para después determinar a través del análisis de compo­nentes principales las variables que tienen mayor poder explicativo en este fenómeno; además se utiliza el análisis de clúster jerárquico, que permite establecer el nivel que tiene cada estado de la República en cuanto al acceso y uso de servicios financieros en instituciones tradicion­ales y microfinancieras. Dado esto, se puede decir que existe una brecha de género importante y que se necesitan implementar medidas que aumenten la participación de la mujer en el sec­tor financiero para mejorar sus condiciones socioeconómicas y su calidad de vida, la cual le permita crecer en los diferentes entornos de la vida cotidiana.Palabras clave: inclusión financiera, empoderamiento, equidad de género, acceso, mi­crofinanzas. Abstract. The article analyzes the financial inclusion of women and their relationship with empowerment in the current Mexican society as official figures show that 39% of adult women have a bank account and only 25% have a credit card, which It frames a great depen­dence of women with men in financial matters. Currently, there is no established theory on the financial inclusion of women, although the importance of promoting it as a tool to achieve the empowerment of excluded groups has been highlighted. It shows the positive impact of decreasing female financial exclusion in our country, to then determine through the analysis of major components the variables that have greater explanatory power in this phenomenon; In addition, a hierarchical cluster analysis is used to establish the level of each state of the Repu­blic in terms of access and use of financial services in traditional and microfinance institutions.Given this, it can be said that there is an important gender gap and that measures must be im­plemented to increase the participation of women in the financial sector in order to improve their socioeconomic conditions and their quality of life, which allows them to grow in different environments of everyday life.Keywords: financial inclusion, empowerment, gender equity, access, microfinance.

scholarly journals DETERMINANTS OF FINANCIAL INCLUSION AND PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN NAIROBI CITY COUNTY

2016 ◽  
Vol 1 (3) ◽  
pp. 62
Author(s):  
Elvince Hillary Otiato
Keyword(s):  
Financial Institutions ◽  
Financial Services ◽  
Social Inclusion ◽  
Small And Medium Enterprises ◽  
Financial Inclusion ◽  
Money Transfers ◽  
Resource Levels ◽  
Access And Quality ◽  
And Performance ◽  
Medium Enterprises

Purpose: The general objective of this study was to assess the determinants of financial inclusion and performance of small and medium enterprises in Nairobi City County.   Methodology: The study adopted a descriptive research design.  Findings: Determinants of financial inclusion among the SMEs in Nairobi City County included; access, Quality and usage of various financial services. The study revealed that determinants of performance among the SMEs in Nairobi City County included; product/service costs, volume levels traded, profit margins, human resource levels and efficiency levels. The results also identified technological innovations such as MPESA, Mshwari and Agency banking as the most crucial technology factors which played a crucial part in improving their business. The regression results revealed that there was a direct link between the performance levels of SMEs and financial inclusion. Further, the study findings also revealed that technology included platforms like mobile money transfers, ATMs and agency banking eased and ensured inclusion. This was seen as an integral part of inclusion further enhancing the performance of various SMEs.Unique contribution to theory, practice and policy: This study can be a source of solution to be implemented by government of Kenya and the Central Bank of Kenya to create policies that create room for small and medium enterprises to obtain loans from financial institutions. In addition, the study This study will also create awareness among financial institutions in the importance of usage, access and quality of finances to small and medium enterprises which in turn will enable better performance of enterprises. This will definitely have an effect on social inclusion of citizens and better the economic performance.The aftereffects of the study would also contribute towards filling the gap on the topic. It is trusted that the discoveries of the study will make significant augmentations to the writing in the field of financial inclusion and performance fortifying further interest.

scholarly journals International financial inclusion: some multidimensional determinants

2018 ◽  
Vol 2 (2) ◽  
pp. 1-14
Author(s):  
Lilianne Isabel Pavón Cuéllar
Keyword(s):  
Rural Communities ◽  
Financial Services ◽  
Social Inclusion ◽  
Financial Inclusion ◽  
Development Agenda ◽  
Barriers To Access ◽  
Poor Women ◽  
Decent Life ◽  
Promising Source

The generalized access to financial services is a promising source of growth and social inclusion to reach “decent life for all”, just as is conceived in the development agenda in the Millennium Declaration and ratified in the 2030 agenda for sustainable development of the United Nations. Some groups in financial terms are more excluded than others: the poor, women, youngsters, and the inhabitants of far rural communities scarcely populated, tend to face a larger number of barriers to access these services. Recently created businesses and small ones face a greater number of insuperable obstacles. This paper analyzes the recent financial inclusion in the global scope, with special emphasis on SMEs. Its importance and meaning are deeply examined; some of its determinants are presented and tested, such as credit banking, through a model based on panel data. It is found that, given some country cultural traits linked to their risk aversion and long-term vision, achieving a larger financial inclusion on the credit side, depends not only on the access channels and the characteristics of the offered products, but on different demand aspects as some socioeconomic features of their potential customers.

scholarly journals PERCEPTION ON PRADHAN MANTRI JANDHAN YOJANA - A STUDY WITH REFERENCE TO THALLAREVU MANDAL

2017 ◽  
Vol 5 (6) ◽  
pp. 129-146
Author(s):  
Mohana Krishna Irrinki ◽  
Kuberudu Burlakanti
Keyword(s):  
Life Insurance ◽  
Low Income ◽  
Financial Services ◽  
Financial Inclusion ◽  
Bank Account ◽  
Debit Card ◽  
The People ◽  
Insurance Cover ◽  
Innovative Concept

Financial inclusion aims at delivering the financial services at an affordable cost to sections of disadvantaged and low-income segments of society. Financial inclusion is an innovative concept which promotes the banking habits among the financially excluded people and enables to reduce poverty and the launch of Pradhan Mantri Jan Dhan Yojana (PMJDY) by Government of India is in that direction. This scheme is not confined to opening of bank account but has other advantages blended with it such as Zero Balance bank account with RuPay debit card, Accidental Insurance cover of Rs 1 lakh, Life Insurance cover of Rs 30,000, etc. This paper is an attempt to identify the perception of the people of Thallarevu Mandal about the newly launched scheme Pradhan Mantri Jan Dhan Yojana.

scholarly journals FINANCIAL INCLUSION AND WOMEN EMPOWERMENT: A GENDER PERSPECTIVE

2018 ◽  
Vol 6 (5) ◽  
pp. 229-237
Author(s):  
Bincy George ◽  
K.T. Thomachan
Keyword(s):  
Low Income ◽  
Financial Services ◽  
Financial Inclusion ◽  
Women Empowerment ◽  
Bank Account ◽  
Banking Services ◽  
Income Groups ◽  
The Social ◽  
Social And Economic Development ◽  
Low Income Groups

This paper examines women empowerment associated with financial inclusion. Financial inclusion is delivery of banking services at an affordable cost to the vast sections of disadvantaged and the low-income groups. The various financial services include access to saving, credit, insurance, bank account etc. The access to financial services helps women in their social and economic development. It is noted that access to financial service through financial inclusion do have impact upon the social and financial empowerment of women leading to their overall empowerment.

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