Role of Education in Financial Inclusion of Poor and Unbanked Women in India

Amra Sabic-El-Rayess(1*)

(1) Columbia University, Teachers College
(*) Corresponding Author

Abstract

In recent times, the global financial system has embraced more people from more regions of the world, but we are yet to fully understand who remains excluded and why. Globally, 2 billion adults are still unbanked (World Bank, 2015). Of those, many are poor women. Even when they gain financial access, women tend to refrain from actively using their bank accounts. India represents a potent example of this global challenge. Our study offers a quantitative analysis of the Financial Insights Inclusion and Findex datasets and finds that even when they are given the opportunity and potential benefits of financial access - many of India’s poor women opt out of actively engaging with the formal banking institutions. In examining reasons behind their account dormancy, we find that education is a significant determinant shaping decisions of India’s poor women.

Keywords

financial inclusion, education, poor, India

Full Text:

PDF

References

Agrawal, S. (2016). “One out of four financi-ally excluded women across the world is an Indian” Available online at: http://www.livemint.com/Politics/KH3o9IVQHvswhLHkt5vyWI/One-out-of-four-financially-excluded-women-across-the-world.html

Bisas, S. (2013). Does India need a bank for women? Available online at: http://www.bbc.com/news/21611787

Chen, G. (2014). India’s unique ID could ge-nerate big boost in financial access. The Consultative Group to Assist. Available online at: http://www.cgap.org/blog/indias-unique-id-could-be-about-generate-big-boost-access

Datwani, L. (2017). India’s push for financial inclusion. The Consultative Group to Assist. Available online at: http://www.cgap.org/publications/india’s-push-financial-inclusion

Gloukoviezoff, G. (2007). From financial ex-clusion to overindebtedness: the para-dox of difficulties for people on low in-comes?. In New frontiers in banking ser-vices (pp. 213-245). Springer Berlin Heidelberg.

Ismail, Afiah Binti Sheikh and Nor Aishah Buang. (2019). Development of Entrepreneurship Intentions among School Students in Malaysia. IJOLAE Indonesian Journal on Learning and Advanced Education.Vol.1 (1), July 2019. DOI: 10.23917/ijolae.v1i1.7289

Kabeer, N. (2003). Assessing the wider social impacts of microfinance services: Concepts, methods, fin-dings. ID Bulletin Vol 34. Available online at: https://opendocs.ids.ac.uk/opendocs/bitstream/handle/123456789/8580/IDSB_34_4_10.1111-j.1759-5436.2003.tb00095.x.pdf?sequence=1

Karmakar, K. G., Banerjee, G. D., & Mohapa-tra, N. P. (2011). Towards financial in-clusion in India. SAGE Publications In-dia.

Leyshon A. and Thrift N. (1995) Geographies of Financial Exclusion: Financial Aban-donment in Britain and the United States Transactions of the Institute of British Geographers, New Series, 20(3): 312-41.

Monks, K. (2017). M-Pesa: Kenya’s mobile money success story turns 10. CNN. February 24, 2017.

Rasid, Nordalila Binti Mohammad, and Nor Aishah Buang. (2019). The Tendency Towards Entrepreneurship Among Stu-dents of Maktab Rendah Sains Mara (MRSM). IJOLAE Indonesian Journal on Learning and Advanced Education. Vol.1 (1), July 2019. DOI: 10.23917/ijolae.v1i1.7287

World Bank (2016). Gender equality, poverty reduction, and inclusive growth. Availa-ble online at: http://documents.worldbank.org/curated/en/820851467992505410/pdf/102114-REVISED-PUBLIC-WBG-Gender-Strategy.pdf

Article Metrics

Abstract view(s): 578 time(s)
PDF: 261 time(s)

Refbacks

  • There are currently no refbacks.