Reducing Financial Inclusion Gaps: A Policy Roadmap for Developing Economies

Pami Dua (Delhi School of Economics), Deepika Goel (Aryabhatta College), Neeraj Kumar (DepartmentofEconomicAffairs), Neha Verma (KiroriMalCollege)
This Policy Brief was first published in https://t20ind.org


In recent years, financial inclusion (in terms of its dimensions of access, usage, and quality of products, and services) has increased significantly across nations and regions. However, financial exclusion of certain groups based on gender, age, income, education, and occupation is still rampant in developing economies. These economies, already vulnerable to economic shocks and climate change- related risks due to fragile social, institutional, and regulatory structures, find their resilience further compromised by disparities in financial access and usage. This policy brief draws on the World Bank’s Global Findex Database (2011-2021) to identify and address such gaps with in developing economies. It asserts that developing economies require innovative policy interventions, such as enhancing digital infrastructure, introducing novel financial services, fostering financial literacy, consolidating institutions ,and strategically leveraging these policies to close gaps in financial inclusion, and adapt to and mitigate climate change-related risks.


Pami Dua (Delhi School of Economics), Deepika Goel (Aryabhatta College), Neeraj Kumar (DepartmentofEconomicAffairs), Neha Verma (KiroriMalCollege)

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