A Study on Financial Inclusion, Financial Resilience in India Pre and Post COVID-19: A Multi-Dimensional Approach

Priyanka Yadav (), Devendra Kumar Yadav and Bhavesh Parmar ()
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Priyanka Yadav: National Forensic Sciences University
Devendra Kumar Yadav: B. B. Ambedkar University
Bhavesh Parmar: National Forensic Sciences University

A chapter in Financial Resilience and Environmental Sustainability, 2025, pp 247-263 from Springer

Abstract: Abstract Financial inclusion concerns are among the top socioeconomic issues on the agendas of governments, central banks, financial institutions, international organizations and politicians. Interest in these issues is rapidly expanding. To own a bank account does not guarantee use of financial services and it’s not the only measure of financial inclusion. There are several parameters that capture how inclusive a financial system is. A multi-dimensional financial inclusion index (FII) is suggested in this study to measure financial inclusion in India pre and post COVID-19 to check how resilient the Indian economy is. Eight financial inclusion parameters were used in the index's calculation. This research uses equal weights to compute the FII for the years 2019–20 and 2023–24. The results indicate that over the course of the study, there has been a 0.008 point increase in value for India on FII. India has a score of 0.111 and 0.119 for the financial years 2019–20 and 2023–24 respectively, which places it in the category of “low level of financial inclusion.” The findings show that even if a number of government initiatives have made significant progress, much more work must be done to get the economy to a level of full financial inclusion.

Keywords: Financial inclusion; Resilient financial system; Multi-dimensional index; Access to finance; Economic growth; NABARD; Bankers; TOPSIS; Collegial model (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/978-981-96-4269-4_11

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