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Financial Inclusion and Women Empowerment

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Words: 533 |

Page: 1|

3 min read

Published: Dec 18, 2018

Words: 533|Page: 1|3 min read

Published: Dec 18, 2018

Financial inclusion refers to process of economic offerings at reasonable costs to the ignored or abandoned sections of the society of the economic system. Access to formal finance can accelerate job creation, reduce financial stress and huge investments in human capital. Without sufficient access to formal financial services, individuals, women, businesses and companies need to depend upon their confined resources or rely on expensive informal sources of finance to satisfy their monetary needs and pursue overall good opportunities. Financial Inclusion focuses on the intensity to provide access to financial sources without showing any gesture of inequality. It is more crystal clear when conducting any financial cooperation keeping all costs or transaction visible. Financial inclusion formulates inclusive growth reliability where the main eyes remain on the businesses, individuals, women, companies and society to get tangled and get engaged in financial management sensibly. Financial Inclusion also plans to have in view to straighten out recognition about financial assistance and also driven out objective on financial administration in the company of individuals of the community.

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Financial Inclusion creates mass impact on women as they get to access credit and loan assistance, conduct transactions as well as also get involved in huge capital investments. Accessing the financial services has given liberty to women to utilize it to maximum level which was not possible before due to several barriers. Financial assistance made women more independent and the level of agricultural productivity also increased. With proper implementation of Financial Inclusion, it is seen that women-managed businesses made substantial growth. Reducing the gender gap also made women get access to markets, learn industry skills, acquire training and development programs, invest in huge investments and assets. Women's empowerment is widely appreciated as it is seen that self employment among women leads to more women-led organizations and female involvement. Developed countries show higher involvement of women compared to developing countries as they are more open to higher borrowing credit facilities from financial institutions, good business skills, proper market mindset, high revenue income, less burden of return.

Financial Inclusion played a bigger role in achieving participation of women in economic activities which has led to high economic development and also boosts economy growth. Involvement of women should be more in organizations and enterprises as they adapt to business atmosphere at a faster pace, acquire fast changes in technology, good communication skills, participate more in policy decisions and can express multiple perspectives. As women focus on savings more than expenditure, giving financal services access will definitely help in more saving and investment costs and also engaged in good education for children and maintain hygiene diet of women, children and family. Women have shown keen interest in entrepreneurship practices which initiated higher participation of women in rural and urban employment opportunities which has also lead to significant growth in MSME sector.

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In today's world participation of women is very crucial in every sector as they are more confident and work effectively when they manage their financial resources and express organizations perspective in a professional manner. Financial Inclusion is more about how to empower women so that they become financially capable, increase negotiation potential , more participation in every sector, have a safe and sustainable future ahead.

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Dr. Oliver Johnson

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THE DIGITAL FINANCIAL INCLUSION. (2022, December 24). GradesFixer. Retrieved May 18, 2024, from https://gradesfixer.com/free-essay-examples/the-digital-financial-inclusion/
“THE DIGITAL FINANCIAL INCLUSION.” GradesFixer, 24 Dec. 2022, gradesfixer.com/free-essay-examples/the-digital-financial-inclusion/
THE DIGITAL FINANCIAL INCLUSION. [online]. Available at: <https://gradesfixer.com/free-essay-examples/the-digital-financial-inclusion/> [Accessed 18 May 2024].
THE DIGITAL FINANCIAL INCLUSION [Internet]. GradesFixer. 2022 Dec 24 [cited 2024 May 18]. Available from: https://gradesfixer.com/free-essay-examples/the-digital-financial-inclusion/
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