Examining Differences in the Level of Financial Inclusion and Empowerment: A Study on BOP Consumers

Abstract

This study explores gender-based differences in financial inclusion and empowerment among Bottom of the Pyramid (BOP) consumers in India. Despite efforts toward financial inclusion, BOP individuals—especially those in remote and underserved areas—continue to face challenges in accessing formal financial services. The research investigates not only the accessibility and usage of financial services but also four key dimensions of empowerment: economic, socio-cultural, political, and psychological. Using a structured questionnaire, primary data was collected from 500 BOP consumers across 10 districts. Responses were rated on a five-point Likert scale and analysed using mean score analysis. Findings indicate that both male and female BOP consumers experience a relatively high level of financial inclusion, with men slightly outperforming women in terms of accessibility and usage of financial services such as banks, ATMs, and post offices. However, when it comes to empowerment, female respondents reported slightly higher levels across all four dimensions, suggesting a positive trend toward gender parity. Although the differences are minor, they reveal meaningful insights into how gender influences financial behaviors and empowerment perceptions. The study concludes that gender-sensitive financial policies and targeted outreach efforts are essential to bridging the minor but notable gaps in financial inclusion and empowerment. By addressing these disparities, financial institutions and policymakers can play a crucial role in fostering inclusive growth and socio-economic development in BOP communities.