Financial Inclusion And Its Effect On Financial Efficiency And Economic Empowerment – With Reference To Migrant Labourers In Kerala

Abstract

This article suggest that increased access to financial services encourages savings, investments, entrepreneurship, and develops the productivity. The analysis explores the positive correlation between poverty reduction and financial inclusion, highlighting how inclusive financial systems contribute to social development and income equality. Though, disparities and challenges in the implementation of financial inclusion strategies are addressed. The study examines issues related to infrastructure, financial literacy, and cultural factors that may hinder the effectiveness of these initiatives, particularly in rural and underserved areas. The aim of the country is bringing companies and individuals into the formal financial fold, stimulate entrepreneurship, unlock latent economic potential, and promote financial flexibility among its people. The effects on financial inclusion becomes essential for financial institutions, policymakers, and stakeholders.