Analysing India’s Sustainable Growth from the Lens of Financial Inclusion: An Empirical Investigation in Tribal Districts of Odisha

Financial inclusion is a relatively new technique employed by financial institutions to offer appropriate education to prospective clients from social groups with low levels of education overall and nearly non-existent financial literacy in particular. A population in danger of poverty and social marginalization is the focus of these activities. Financial inclusion initiatives will have the greatest effect in developing nations with low levels of economic knowledge. With sustainable development rising to the top of the agenda these days, financial inclusion can be seen as a key instrument for advancing sustainable development in developing and least developed nations. Many nations made commitments to support financial inclusion, and some were even creating national policies to do so, as it grew to be seen as an objective by global development organizations and regulators. Financial and non-financial institutions are free to innovate and explore new financial service models in the field of financial inclusion development, as demonstrated by the success of microfinance as a tool for economic development in both developed and developing nations. This chapter will describe the approach that was implemented to examine how demographics affect financial inclusion. A total of 240 tribal households provided the data, which were then analysed to determine how much they used financial services, along with an evaluation of the outcomes. This chapter outlines a carefully considered strategy for ensuring financial inclusion’s sustainability. The route outlines the significance of accessibility, affordability, awareness, and attitude towards financial services in promoting their use. Policymakers and researchers will benefit from the research’s ability to better understand the long-term strategy for providing and consuming financial services among vulnerable and seeking segments of the population.