The growing importance of consumer finance for financial inclusion in India

Saon Ray, Smita Miglani and Sandeep Paul

Indian Council for Research on International Economic Relations (ICRIER) Working Paper from Indian Council for Research on International Economic Relations (ICRIER), New Delhi, India

Abstract: The Indian financial inclusion story so far was led by commercial banks and MFIs. While acknowledging the importance of access to credit for productive purposes, a total integration with financial market also means access to services like insurance and consumption loans. This paper examines the role of consumer finance, a high growth segment of the Indian financial sector in promoting financial inclusion. Consumer finance involves granting credit to consumers to enable them to possess goods for everyday use. While the Indian financial sector is changing rapidly, a large number of households still rely on informal sources for unforeseen expenditure. The paper presents results of a survey of consumer perception on the role of consumer credit to financial inclusion.

Keywords: Financial Inclusion; NBFC; Consumer Survey; icrier (search for similar items in EconPapers)
Pages: 35 page
Date: 2018-11
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Citations: View citations in EconPapers (1)

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Related works:
Working Paper: The Growing Importance of Consumer Finance for Financial Inclusion in India (2019)
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