Bridging the Gap : Financial Literacy as a Tool for Inclusive Growth Among Economically Disadvantaged Groups in Selected Regions of India

Authors

DOI:

https://doi.org/10.17010/ijf/2026/v20i6/175559

Keywords:

financial literacy, financial inclusion, economic empowerment, inclusive growth, regional disparities, Indias.
JEL Classification Codes :G53, I22, I25, O12, O15, O16
Publication Chronology: Paper Submission Date : September 15, 2025 ; Paper sent back for Revision : May 16, 2026 ; Paper Acceptance Date : May 25, 2026 ; Paper Published Online : June 15, 2026.

Abstract

Purpose : This study examined how financial literacy influenced financial inclusion, empowerment, and inclusive growth among economically disadvantaged adults in selected regions of India.

Design : A survey of 2,470 respondents was conducted across seven Indian regions using multi-stage stratified random sampling. Data were analyzed using ordinal logistic regression, SEM, multilevel ordinal models, and robustness checks.

Findings : Respondents showed reasonable literacy in budgeting, basic concepts, and digital transactions, but weaker confidence in comparing financial products. Financial literacy significantly supported inclusion and empowerment. NGO and digital initiatives were more effective than government-only programs, though regional, digital, and socio-cultural barriers remained.

Practical Implications : The study recommended local-language, community-based, and digital financial literacy programs targeting women, youth, migrants, and disadvantaged groups.

Originality / Value : The study validated the pathway financial literacy → financial inclusion → empowerment → inclusive growth using a large multi-region primary dataset.

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Published

2026-06-15

How to Cite

Pawar, S. D., & Chavan, P. P. (2026). Bridging the Gap : Financial Literacy as a Tool for Inclusive Growth Among Economically Disadvantaged Groups in Selected Regions of India. Indian Journal of Finance, 20(6), 46–67. https://doi.org/10.17010/ijf/2026/v20i6/175559

Issue

Volume 20, Issue 6, June 2026

Section

Articles
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