Summary of literature
| Variable | Structural impact on financial inclusion | Key supporting literature |
|---|---|---|
| Income and wealth | High income relaxes liquidity constraints, enhances savings capacities and significantly expands formal credit and deposit usage | Zins and Weill (2016), Raichoudhury (2020), Khushboo and Pradhan (2024) |
| Education and literacy | Advanced schooling lowers informational barriers, enhances procedural comprehension and drives overall financial awareness | Datta and Singh (2019), Singh and Mallick (2024), Kumar and Pradhan (2024) |
| Employment security | Permanent, formal employment channels regular wage streams through official banking setups, reinforcing institutional attachment | Badar et al. (2020), Soni and Manogna (2024) |
| Age dynamics | Life-cycle factors create nonlinearities; exclusion risks intensify significantly among unexposed youth cohorts and ageing populations | Abdu et al. (2015), Sanderson et al. (2018) |
| Socio-religious realities | Cultural affiliations and specialized religious financial spaces (e.g. Islamic banking) generate highly localized transaction choices | Ghosh (2020), Dagnachew and Mawugatie (2022) |
| Variable | Structural impact on financial inclusion | Key supporting literature |
|---|---|---|
| Income and wealth | High income relaxes liquidity constraints, enhances savings capacities and significantly expands formal credit and deposit usage | |
| Education and literacy | Advanced schooling lowers informational barriers, enhances procedural comprehension and drives overall financial awareness | |
| Employment security | Permanent, formal employment channels regular wage streams through official banking setups, reinforcing institutional attachment | |
| Age dynamics | Life-cycle factors create nonlinearities; exclusion risks intensify significantly among unexposed youth cohorts and ageing populations | |
| Socio-religious realities | Cultural affiliations and specialized religious financial spaces (e.g. Islamic banking) generate highly localized transaction choices |
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