Financial Inclusion and the Indian Woman

Shailesh Dattatraya Borkar

doi:10.36948/ijfmr.2023.v05i06.9816

Financial Inclusion and the Indian Woman

Author(s)	Shailesh Dattatraya Borkar
Country	India
Abstract	Financial inclusion is aimed at providing banking/financial services to all people in a fair, transparent and equitable manner and at an affordable cost. The Rangarajan Committee (2008) viewed financial inclusion as imperative for inclusive growth and finance. An inclusive financial system facilitates efficient allocation of productive resources and thus can reduce the cost of capital. Leveraging with financial deepening of innovative products and services can make profitable inroads for a broad-based and inclusive financial system. This paper focuses on the need for financial products and services for women. Women face greater challenges in accessing formal finance due to several factors. The relatively low use of financial products by women may increase their vulnerability to income shocks and reduce their ability to invest, save and plan for the future. The relevance of access to financial products and services among women for development, poverty reduction and gender-equality is an issue receiving great attention. Women still do not derive their deserved benefit from institutional credit and capital flows. Women’s financial inclusion can make an important contribution to women’s economic empowerment. Improved financial inclusion and financial access for women, designed according to their needs, increases their opportunities to contribute to economic growth and better access to health and educational services. Women’s financial inclusion also has a significant impact on sustainable development. Designing financial literacy campaigns can help in bringing gender-sensitive information about financial markets, products and services in capital and money markets etc. Women leadership models can also strengthen associations of women with financial institutions. This paper tries to explain the causes for relatively less use of financial products and services of women and how they can be brought under the umbrella of financial inclusion for inclusive growth and sustainable development.
Keywords	Financial inclusion, financial services, empowerment, financial literacy, leadership, gender sensitivity, sustainable development
Field	Business Administration
Published In	Volume 5, Issue 6, November-December 2023
Published On	2023-12-03
Cite This	Financial Inclusion and the Indian Woman - Shailesh Dattatraya Borkar - IJFMR Volume 5, Issue 6, November-December 2023. DOI 10.36948/ijfmr.2023.v05i06.9816
DOI	https://doi.org/10.36948/ijfmr.2023.v05i06.9816
Short DOI	https://doi.org/gs7v2k

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Financial Inclusion and the Indian Woman

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