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05 July 2023, Volume 38 Issue 3
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Abstract
Financial Inclusion (FI) enables vulnerable populations, such as the elderly, disabled, and low- income individuals, to access social security schemes and government benefits easily. This ensures that they receive the support they need to meet their basic needs and lead dignified lives. FI is of utmost importance in Odisha, as it plays a vital role in promoting economic growth, reducing poverty, and ensuring the overall well-being of its residents. There exists much literature predominantly emphasizing the global implications of FI on economic development, but there is a noticeable gap in research specifically tailored to the Indian context. Furthermore, there is a scarcity of studies that have specifically examined the state of Odisha in relation to this topic. And so the study aims to provide an insight into the way FI helps the people of Odisha develop economically. The study's findings support the notion that FI entails endeavors to involve a significant portion of the population in the journey of economic advancement by providing diverse financial services. FI in Odisha can significantly contribute to poverty reduction, economic growth, and improved living standards for its residents. By providing access to formal financial services and fostering financial literacy, the state can empower its citizens and pave the way for a more inclusive and prosperous society.
Keyword
Financial Inclusion, Economic Development, Outreach, Technology, Accessibility
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