The Extent of Financial Inclusion among Peri-urban Population of India

Abstract

Introduction: Financial inclusion means providing access to financial services to all, regardless of place or people. With rapid urbanization, peri-urban areas occupy a significant position in terms of economic, social, and environmental transformations and focus on sustainable development.

Objectives: The study examines the relationship between sustainable economic growth and financial inclusion, especially with respect to peri-urban regions of India, and identifies the factors influencing financial inclusion.

Methods: A survey was conducted in which descriptive analysis, factor analysis, and Structural Equation Modeling were applied to analyze quantitative data from 500 respondents from five major urban agglomerations by using a bilingual structured questionnaire.

Results: The study highlights key dimensions of financial inclusion, including the duration, regularity, frequency, and usage of financial services.

Conclusions: The findings suggest that financial inclusion is vital for achieving sustainable economic growth in peri-urban areas, which is further highlighted by the model explaining the factors affecting inclusion.