Moderating Influence of Women’s SocioEconomic Education and Demographic Factors on the Relationship between Financial Inclusion and Well-being: Evidence from India

Abstract

Financial inclusion is recognized as a crucial pillar of sustainable development, enabling access to financial services that empower women economically and socially. This study examined the association between financial inclusion and the well-being of women workers across diverse socio-economic education and demographics settings (SEED). The data were collected from 290 working women respondents residing in the area of Delhi-NCR. The PLS-SEM techniques were employed to analyze the data obtained during the study. The moderating influence of demographics such as age, income, household head, education, employment type, and region was tested regarding the relationship between financial inclusion and well-being. Findings revealed critical insights into how different SEED groups experience financial inclusion and highlighted the role of these factors in financial well-being. Results showeda significant moderation interaction of income, education, and region with financial inclusion on the well-being of women workers. The age, employment type, and gender of the household head do not significantly moderate the relationship. The findings provide evidence-based recommendations for policymakers, financial institutions, and organizations to design and implement targeted financial inclusion initiatives that can contribute to developing and implementing strategies for promoting the financial wellbeing of women from diverse backgrounds.