Banking & FI

Financial inclusion has become a key driver of inclusive economic growth in India. Although the country has achieved near-universal bank account ownership and eliminated the gender gap in access, meaningful financial inclusion still remains to be achieved. A significant proportion of bank accounts remain inactive, indicating that access alone does not ensure financial resilience or financial well-being. This paper examines financial inclusion through Rittel and Webber's concept of wicked problems. It argues that financial inclusion is shaped by interconnected economic, institutional, behavioural, and other social factors. The study suggests the Antecedents–Consequents–Mediators–Moderators (ACCM) framework to analyse the determinants and outcomes of financial inclusion.