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<p>The present study uses the Sustainable Livelihood Framework (SLF) and women’s empowerment theory to understand the direct and indirect impacts of financial inclusion on sustainable livelihoods. A cross-sectional survey was conducted among 400 women SHG members, including 210 respondents from Andhra Pradesh and 190 respondents from Telangana, two Indian states with strong SHG penetration under the National Rural Livelihood Mission and National Bank for Agriculture and Rural Development supported SHG-Bank Linkage Programme. Further, these constructs, Financial Inclusion, Women Empowerment, and Sustainable Livelihoods, were operationalised as multiple-item scales and examined for reliability and validity using CFA. A Structural Equation Modelling (SEM) was applied to assess the analytical model. The analysis reveals a strong positive correlation between financial inclusion and sustainable livelihoods (β = 0.582, <i>p</i> &lt; 0.001) as well as women’s empowerment (β = 0.671, <i>p</i> &lt; 0.001). Furthermore, Women’s empowerment was identified as a significant mediating mechanism (indirect β = 0.348, <i>p</i> &lt; 0.001), indicating that financial inclusion improves livelihood sustainability more effectively when women possess stronger economic agency, participation, and decision-making capacity. The indicators of fit (CFI = 0.943, RMSEA = 0.051) confirm that the conceptual model is valid. The findings support that access to finance catalyses several effects of financial inclusion, which can sequentially lead to income smoothing, asset building, and resilience of women in rural areas. The mediation analysis revealed a substantial indirect effect of women’s empowerment (β = 0.348, <i>p</i> &lt; 0.001), indicating that financial inclusion generates stronger livelihood outcomes when accompanied by enhanced decision-making ability, economic agency, and social participation among women. The findings suggest that SHG-centred financial programmes should integrate digital literacy, leadership development, and empowerment-oriented interventions to strengthen livelihood resilience and inclusive rural development aligned with SDGs 1, 5, 8, and 10.</p>

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Empowerment of sustainable livelihoods driven by financial inclusion among self-help groups

  • 期刊论文

  • 发表日期：

    2026年8月4日

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  • Aruna Prasanna Kumari Manchala,
  • Shaiku Shahida Saheb

摘要

The present study uses the Sustainable Livelihood Framework (SLF) and women’s empowerment theory to understand the direct and indirect impacts of financial inclusion on sustainable livelihoods. A cross-sectional survey was conducted among 400 women SHG members, including 210 respondents from Andhra Pradesh and 190 respondents from Telangana, two Indian states with strong SHG penetration under the National Rural Livelihood Mission and National Bank for Agriculture and Rural Development supported SHG-Bank Linkage Programme. Further, these constructs, Financial Inclusion, Women Empowerment, and Sustainable Livelihoods, were operationalised as multiple-item scales and examined for reliability and validity using CFA. A Structural Equation Modelling (SEM) was applied to assess the analytical model. The analysis reveals a strong positive correlation between financial inclusion and sustainable livelihoods (β = 0.582, p < 0.001) as well as women’s empowerment (β = 0.671, p < 0.001). Furthermore, Women’s empowerment was identified as a significant mediating mechanism (indirect β = 0.348, p < 0.001), indicating that financial inclusion improves livelihood sustainability more effectively when women possess stronger economic agency, participation, and decision-making capacity. The indicators of fit (CFI = 0.943, RMSEA = 0.051) confirm that the conceptual model is valid. The findings support that access to finance catalyses several effects of financial inclusion, which can sequentially lead to income smoothing, asset building, and resilience of women in rural areas. The mediation analysis revealed a substantial indirect effect of women’s empowerment (β = 0.348, p < 0.001), indicating that financial inclusion generates stronger livelihood outcomes when accompanied by enhanced decision-making ability, economic agency, and social participation among women. The findings suggest that SHG-centred financial programmes should integrate digital literacy, leadership development, and empowerment-oriented interventions to strengthen livelihood resilience and inclusive rural development aligned with SDGs 1, 5, 8, and 10.