Financial inclusion, rural entrepreneurship and women’s empowerment: Insights from the SVEP experience in Kerala

The Start-up Village Entrepreneurship Programme (SVEP), a sub-scheme under DAY-NRLM, aims to promote rural entrepreneurship by addressing gaps in financial access, business skills, and incubation support. This study evaluates the program’s impact in three districts of Kerala Wayanad, Thiruvananthapuram, and Kottayam, reflecting diverse socio-economic contexts. Using a quantitative approach, data was collected from 364 respondents across these districts to assess SVEP’s effectiveness in advancing financial inclusion, fostering entrepreneurship, and enhancing socio-economic outcomes. Key findings reveal that SVEP significantly contributed to financial literacy, accessibility to credit, and income generation. The program enhanced access to credit, especially through the Community Enterprise Fund (CEF). SVEP also fostered knowledge, business skills, and personal empowerment, as reflected in improved well-being, life satisfaction, and social status among respondents. Despite these successes, challenges such as low male and youth participation and disparities in financial ecosystem enhancements were identified. The study recommends targeted interventions to address these gaps, including improved credit utilization, advanced financial literacy programs, sector-specific training, and inclusive strategies to support underrepresented groups. Future research should focus on longitudinal assessments and cross-state comparisons to guide national scaling efforts.