1. Banks and Government Schemes for Financial Inclusion: An Impact Analysis of Rural Households in India.
This project undertakes a comprehensive assessment of the role of banks and government-led financial inclusion schemes in improving access, usage, and welfare outcomes among rural households in India. The study evaluates the effectiveness of RBI-supported and government financial initiatives in fostering inclusive growth and enhancing livelihoods across diverse socio-economic settings. And their role in rural development of India.
A large-scale primary survey was conducted covering 859 rural households, with the active involvement of 180 trained student investigators, spanning the East, West, North, and South zones of Pune District Maharashtra. The study employs advanced quantitative and econometric techniques to rigorously analyse financial inclusion outcomes.
Tools and Techniques Used:
Exploratory Factor Analysis (EFA)
Confirmatory Factor Analysis (CFA)
Probit Regression Models
Analysis of Variance (ANOVA)
Structural Equation Modelling (SEM)
Village level cluster Analysis
Key Research Components:
Construction of a Composite Financial Inclusion Index capturing access, usage, quality, and satisfaction dimensions.
Application of cluster analysis to classify villages into high- and low-financial inclusion groups
Analysis of the impact of income, education, gender, financial literacy, and digital access on financial inclusion and livelihood outcomes
The findings from this project aim to provide evidence-based policy insights to strengthen the design and delivery of financial inclusion schemes and enhance last-mile financial service outreach.
2. Early Warning Mechanism for Macro-Financial Stability in India
This project focuses on developing an Early Warning Mechanism System (EWMS) for detecting vulnerabilities in India’s macro-financial system and identifying early signs of potential financial stress or crises. The study seeks to support proactive policy interventions by strengthening financial risk monitoring and forecasting frameworks.
The research involves the development of composite macro-financial stability indices using various key systemic risk indicators. By integrating these indicators into a structured analytical framework, the project aims to enhance India’s macro-financial surveillance architecture and contribute to more timely and effective policy responses by regulators and policymakers.