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Financial inclusion and human development: an empirical investigation in India

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Empirical investigation evaluates the relationship between financial inclusion and human development in India, suggesting policy shifts.

This research aims to analyze the relationship between financial inclusion and human development in India from 2001 to 2019.
Constructed a financial inclusion index using the Max-Min procedure to convert indicators into indices.
Analyzed secondary data on human development index values and banking activities across regions.
Conducted time series analysis to evaluate the dynamics between financial inclusion and human development.
Found significant regional variations in levels of financial inclusion across India.
Demonstrated that financial inclusion and human development influence each other positively over the studied period.
Recommended government policies focus on human development to effectively reduce regional disparities and enhance financial inclusion.

Alam et al. (2026) studied this question.

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