Paper
Deepening Financial Inclusion: Evidence from Two States
Results and recommendations from a survey on financial literacy and financial inclusion in India
282 pages
This paper presents the results of a survey conducted by SEWA on the current status of financial literacy and financial inclusion in two states, namely Bihar and Madhya Pradesh. The study focused on three aspects of financial inclusion that could lead to financial deepening:
- Existing structures and level of financial literacy bringing out the need and necessity for it;
- Existing level of financial or banking inclusion including usage of banking and other regulated products at an optimal cost;
- Use and understanding of different financial products profile including SCRIPT (Savings, Credit, Remittances, Insurance, Pensions and Transfers).
The paper concludes with recommendations for financial literacy modules customized not only to the need and requirements of various occupational groups, states or regions but also for the different levels of financial inclusion found.
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