STUDY ON FINANCIAL INCLUSION AMONG SELECTIVE ASIAN COUNTRIES – A COMPARATIVE ANALYSIS
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Abstract
Objective: In recent years, inclusive growth has emerged as one of the most significant policy objectives around the world. Financial inclusion is the most recent item to be explicitly added to the social inclusion agenda, and it advocates for all segments of society to have affordable access to a wide range of financial services Several national governments have undertaken financial inclusion initiatives. These, along with other international and national efforts, are producing results.
Purpose: According to recent Global Findex data, the global share of adults having a bank account has climbed by seven percentage points since 2015. This study will compare financial inclusion developments in key Asian economies including India, Pakistan, China, Bangladesh, Sri Lanka and others. It is a descriptive study.
Methodology: This research was conducted utilizing the Global Findex database of seven nations. Furthermore, binary logistic regression, panel regression, and pooled regression were used to investigate the amount of influence that the independent variable has over the dependent variables.
Findings: Gender has less of an influence in India and more in Pakistan, but in all other nations, gender and age do not significantly explain people’s savings. Employers in the intermediate and small-scale industries are required to pay salaries using bank accounts. This will also help women gain financial inclusion in India, Pakistan, China, Bangladesh, Indonesia, Sri Lanka, and many others.
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