Financial Inclusion Status, Measurement, Determinants and Gender Gap: an Empirical Analysis of Punjab State in India

Abstract Access to finance connotes the supply of affordable and high-quality financial products and services, along with demand at the individual level. This research study provides a comprehensive analysis of financial inclusion, with a primary focus on measuring its level in the rural areas of Punjab state of India. The research aims to find the role of financial inclusion in sustainable economic development, elaborates the status of financial inclusion and finds out the financial inclusion indicators to measure the level of financial inclusion. Gender gap in the level of financial inclusion is determined and the impact of different demographic and socio-economic variables on the level of financial inclusion is also explored. A Financial Inclusion Index is developed to assess the extent of financial inclusion. The research highlights significant issues regarding financial inclusion and gender disparities, leading to policy recommendations aimed at enhancing financial inclusion. Ultimately, this study provides valuable insights into the varied aspects of financial inclusion and will be useful for researchers, financial institutions and government policy makers.