Purpose

The purpose of this paper is to understand the determinants of financial inclusion and the determinants of barriers to financial inclusion in India. Also, the purpose is to ascertain the determinants of informal financial activities in India.

Design/methodology/approach

The data have been collected from the Global Findex Database (Findex) 2017. Various measures of financial inclusion, namely, ownership formal accounts, use of accounts for saving and borrowing, ownership and use of the debit card are used. The independent variables used are: age, income, education and gender. Given the binary nature of dependent variables, this paper uses the Probit model to draw the inferences.

Findings

The results show that gender, age, education and income have a significant impact on the various measures of financial inclusion. Additionally, these factors have a significant impact on the informal saving and borrowing.

Research limitations/implications

The given study uses the deferent measures of financial inclusion. An index of financial inclusion created using all the financial inclusion measures would be a better indicator of financial inclusion.

Practical implications

The results of this study would be useful for policymakers to identify the determinants and barriers of financial inclusion in India. The results show that policymakers should focus on the female population, in particular, and education and income enhancing measures, in general, to make financial inclusion more inclusive.

Originality/value

The study is the first of its kind to analyze financial inclusion in India using the Findex. Unlike previous studies, variables such as education and income are constructed more pragmatically. In particular, the study tries to understand the socio-economic determinants of financial inclusion measured as ownership of formal accounts, formal saving, formal credit, ownership of debit cards and use of debit cards. The study also analyzes the determinants of barriers to financial inclusion, savings (formal and informal) and borrowing (formal and informal).

中文翻译：

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印度的金融普惠性决定因素和障碍：全球金融普惠性指数的见解

目的

本文的目的是了解印度的金融包容性决定因素和阻碍金融包容性的决定因素。此外，目的是确定印度非正式金融活动的决定因素。

设计/方法/方法

数据是从2017年全球Findex数据库（Findex）收集的。采用了各种金融普惠措施，即所有权正式账户，用于储蓄和借贷的账户使用，所有权和借记卡使用。使用的独立变量是：年龄，收入，教育程度和性别。考虑到因变量的二进制性质，本文使用Probit模型进行推论。

发现

结果表明，性别，年龄，教育程度和收入对金融普惠性的各种衡量指标都有重要影响。此外，这些因素对非正式的储蓄和借贷也有重大影响。

研究局限/意义

给定的研究使用金融包容性的不同度量。使用所有金融普惠措施创建的金融普惠指数将是金融普惠的更好指标。

实际影响

这项研究的结果对于决策者确定印度金融包容性的决定因素和障碍将是有用的。结果表明，决策者应特别关注女性人口，并总体上关注教育和增加收入的措施，以使金融包容性更具包容性。

创意/价值

该研究是首次使用Findex分析印度的金融包容性的研究。与以前的研究不同，教育和收入等变量的构建更为实用。特别是，该研究试图理解金融普惠性的社会经济决定因素，这些因素包括正式账户的所有权，正式储蓄，正式信贷，借记卡的所有权和借记卡的使用。该研究还分析了金融包容性，储蓄（正式和非正式）和借款（正式和非正式）的障碍的决定因素。