Exploring the factors affecting digital financial inclusion for socio-economic empowerment

Abstract

The aim of this study is to examine the factors affecting digital financial inclusion for socio-economic empowerment. Self-administered quantitative questionnaires were distributed in rural and semi-urban areas of two districts like Gwalior and Morena. To fulfill the objectives exploratory factor analysis (EFA) was used.  The findings revealed that availability, usage, accessibility and convenient were the major factors for financial inclusion and for mobile banking adoption - attitude towards adoption, economic cost & credibility, perceived financial cost, perceived ease of use, adaptable, utility, perceived usefulness, high cost and momentous are the key drivers. Literacy and creditworthiness, awareness and esteemed found the key factors of social empowerment and remarkably economic empowerment emerged as univariate variable.