Inclusive Growth In Financial Sector: A Study of Haryana

DOI

10.2991/978-94-6463-544-7_18How to use a DOI?

Keywords

Financial inclusion; inclusive growth; financial sector; regulatory frameworks; government policies; technological advancements

Abstract

The purpose of this research is to look at how regulatory frameworks, government policies, and obstacles to inclusion to better comprehend the role of financial inclusion mechanisms in promoting inclusive development. In this quantitative research, 400 participants are analyzed to find out how financial inclusion relates to inclusive growth in the banking industry. To get information from the chosen group, the researchers used a structured questionnaire. We use a quantitative approach and evaluate our ideas using regression analysis. The findings reveal several significant relationships. Firstly, a positive correlation is observed between the adoption of inclusive growth concepts and the financial sector’s performance and stability “(β = 0.470, p < 0.001). Moreover, the presence of supportive regulatory frameworks (β = 0.370, p < 0.01), financial literacy programs (β = 0.520, p < 0.01), and technological advancements (β = 0.340, p = 0.012)” positively influence inclusive growth. Government policies and initiatives focusing on financial inclusion, capacity building, and fostering an enabling environment significantly contribute to promoting inclusive growth (β = 0.108, p < 0.05). Moderation analysis further confirms the moderating role of government policies (β = 0.142, p < 0.05). The report emphasizes the complex interplay between financial inclusion strategies and initiatives to foster inclusive development within the financial industry. Given the complex interplay between regulatory frameworks, policies, and technical advances, these results highlight the need for an integrative strategy for economic growth Policymakers may benefit greatly from the study’s results, which provide concrete suggestions on how to promote equitable growth in the financial sector and contribute to society’s overall socioeconomic development.

Copyright

© 2024 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Rishabh Monga
AU  - Vipin Sharma
PY  - 2024
DA  - 2024/10/17
TI  - Inclusive Growth In Financial Sector: A Study of Haryana
BT  - Proceedings of the 2nd International Conference on Emerging Technologies and Sustainable Business Practices-2024 (ICETSBP 2024)
PB  - Atlantis Press
SP  - 270
EP  - 291
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-544-7_18
DO  - 10.2991/978-94-6463-544-7_18
ID  - Monga2024
ER  -