A study on Socio-Demographic perspective of Digital Financial Inclusion in Rural Odisha

Digital financial inclusion carries transformative potential for unserved and under-served population as well as for small and micro businesses. The digital pathways to financial transactions are often seen challenged by various social, economic and demographic factors that pull down the desired penetration of financial services. This study aimed at analysing the impact of social and demographic variables of the customers on different aspects associated with digital financial services namely awareness, comfort, availability, present use and frequency of usage of the rural customers in the state of Odisha. The study was conducted based on primary data collected from eight districts of the state. Six socio-demographic factors viz. age, gender, education, social stratification, annual family income and occupation have been taken up for the study. The study revealed that age, education and annual income are important factors significantly related with all aspects of digital financial services and the other three factors were relatively weaker. Through the multiple regression analysis, an attempt was made to determine relative importance of these three factors.