Published Online:February 2025
Product Name:The IUP Journal of Bank Management
Product Type:Article
Product Code:IJBM020125
DOI:10.71329/IUPJBM/2025.24.1.25-47
Author Name:Nirmala Chandra Pattnayak and Rashmita Sahoo
Availability:YES
Subject/Domain:Finance
Download Format:PDF
Pages:25-47
The study discusses the impact of socio-demographic factors on digital financial inclusion in the Indian state of Odisha. The study examines the relationship of six socio-demographic factors, i.e., age, education, gender, occupation, income and social stratification, with three critical components of digital financial inclusion, i.e., access, usage and quality. By employing a mix of quantitative surveys and qualitative interviews, carried out in eight districts of Odisha, the study finds a strong positive correlation between age, education and annual income with access to devices for digital payments, present usage levels, and digital financial awareness, underscoring their substantial impact. In contrast, other sociodemographic factors like gender, social stratification, and occupation show a weaker correlation, indicating their lesser influence. Education stands out as the most critical determinant of digital financial inclusion, suggesting that higher level of education facilitates improved access, enhanced usage and higher degree of digital financial awareness. Regression analysis further confirms the predictive significance of age, education, and annual income to digital financial inclusion.
landscape in recent years. There has been an array of financial inclusion initiatives rolled out to bring the people, hitherto unbanked and underbanked, to the fold of mainstream financial sector. However, with the emergence of digital payments, financial inclusion activities have seen accelerated pace in achieving the financial inclusion objectives. Digital financial services were instrumental in breaking many of the existing obstacles faced by traditional financial inclusion channels like cost,