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This research examines the evolving gender gap in financial inclusion in India, shifting from access to usage.

April 15, 2026

From Access to Usage: The Shifting Gender Gap in India's Financial Inclusion

Key Points

This research examines the evolving gender gap in financial inclusion in India, shifting from access to usage.
Analyzed Global Findex 2021 data from 3000 respondents
Employed Fairlie's nonlinear decomposition
Used path-independent detailed decomposition methods
Significant gender gaps found in card ownership, digital access, card use, and mobile money
No gaps identified in account ownership or borrowing
Education, employment, and income are key factors affecting usage
A notable unexplained component indicates women convert resources into financial usage less effectively than men

Abstract

ABSTRACT Despite near‐universal account ownership, India's financial inclusion gender gap has shifted from access to usage. Using Global Findex 2021 data from 3000 respondents and employing Fairlie's nonlinear decomposition alongside a path‐independent detailed decomposition, we document significant gender gaps in card ownership, digital access, card use, and mobile money, but not in account ownership or borrowing. Education, employment, income, and locality are the dominant endowment‐side drivers. However, a substantial unexplained component persists across digital indicators, revealing that equally endowed women convert socioeconomic characteristics into financial outcomes at lower rates than men. Closing this gap demands addressing structural barriers beyond human capital.

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Journals

Bulletin of Economic Research

Institutions

Birla Institute of Technology and Science, Pilani

Indian Institute of Management Shillong

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