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PurposeThe study attempts to explore the determinants of financial inclusion. Subsequently, it examines the effect of financial inclusion on financial well-being of marginalized street vendors in India.Design/methodology/approachThe demand-side analysis of measuring financial inclusion with a sample of 371 marginalized street vendors is adopted. Both exploratory and descriptive research designs are employed in this study. The primary data collection is done by administering the structured interview schedule by using a convenience sampling technique. Confirmatory factor analysis (CFA) and structural equation modeling (SEM) are performed to describe the latent constructs and their hypothetical relationships with adequate empirical evidence.FindingsOut of five dimensions of financial inclusion considered for the study, accessibility, availability, usage and affordability are found to be significant determinants of financial inclusion; however, the financial literacy dimension is found statistically insignificant. Further, the study results confirm that financial inclusion contributes substantially to the well-being of marginalized street vendors.Research limitations/implicationsThe outcome of the study will facilitate all the stakeholders including policymakers and financial institutions to enact policy guidelines to ensure financial well-being of the marginalized street vendors through financial inclusion initiatives.Originality/valueFinancial well-being through financial inclusion is possible even without the effect of financial literacy from the unorganized sector perspective specifically marglianized street vendors. Thus, it adds new dimension to the existing literature on demand side analysis of measuring financial inclusion.

The current study explores the determinants of digital financial inclusion (DFI) in India and also examines the influence of demographic characteristics on the accessibility and usage of digital financial inclusion. The data for this study was collected from the World Bank Global Financial Inclusion (Global Findex) database to find the determinants of digital financial inclusion from India's perspective. The study measured the accessibility and usage of digital financial inclusion in relation to selected demographic characteristics such as gender, age, income, education and employment status. The findings of the study revealed that individual’s socio-demographic factors such as gender, age, education, income and employment status have found a significant influence on the accessibility of digital financial inclusion. In addition, these factors have significant effect on usage of digital mode of financial transactions such as payments made and receipts through mobile phone or using the internet. The study provides valuable insights to the policymakers and service providers to improve the status of digital financial inclusion.