Exploring the Impact of Financial Inclusion on Socio-Demographic Factors with Digital Banking Adoption

Abstract

This research investigates the dynamics of financial inclusion with socio-demographic factors within the Delhi National Capital Region (NCR), focusing on online banking among residents. Employing a descriptive research design, the study analyzes the impact of demographic variables—gender, age, education, employment, and frequency of online banking—on various aspects of financial inclusion. A sample of 248 participants was drawn using convenience sampling, reflecting a diverse cross-section of the population. The findings reveal nuanced insights into the interplay between demographic factors and financial inclusion. While gender disparities persist, with women facing greater barriers to financial access, age emerges as a key determinant, highlighting distinct preferences among different age cohorts, particularly digital natives. Employment status significantly influences access to financial services, underscoring the importance of addressing the needs of marginalized workers. Additionally, education plays a pivotal role in shaping financial literacy and capability, emphasizing the need for targeted educational interventions. Furthermore, the frequency of using online banking services serves as a crucial indicator of digital financial inclusion. Disparities in digital literacy and technological access underscore the importance of addressing infrastructural gaps to ensure equitable access to online banking. Overall, this study underscores the multifaceted nature of financial inclusion and provides valuable insights for policymakers, financial institutions, and stakeholders seeking to design inclusive strategies that cater to the diverse needs of populations within the Delhi NCR region. By understanding the complex interplay of demographic factors, stakeholders can develop targeted interventions to promote equitable access to financial services and enhance financial resilience among underserved communities.

Keywords: Financial Inclusion, Investment Portfolio, Financial Objectives, Financial Habits, Financial Decisions, Financial Behavior

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