Abstract

Financial inclusion is a process of providing financial services to everyone at an affordable cost, particularly to weaker sections and low-income groups. The study analyses the level of awareness, usage of banking services and other financial benefits and explores the hindrances to financial inclusion faced by the informal workers in Delhi National Capital Region (NCR). An empirical survey is done, and 760 responses are evaluated to understand the level of financial inclusion using correlation, logit regression analysis, etc. Findings of the study indicate that level of financial awareness and inclusion increase with age, education and income for fixed salary workers. Major hindrances to financial inclusion are lack of savings for using financial services, lack of necessary documentation and lack of trust in the formal banking system. Therefore, the government needs to make more efforts to reach out to the urban poor and informal workers for all-around inclusiveness. JEL Codes: D14, E26, G2, J46, O1

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