Impact of Financial Inclusion on Human Development Index: Special Reference to BRICS Countries

The BRICS countries are frequently referred to as “emerging economies”; they account for a sizable proportion of the global population and face issues such poverty, income inequality, slow economic growth, gender high unemployment rates. Policy measures currently being considered implemented in response these difficulties. Previous studies suggest that greater financial inclusion has positive effect on countries’ development, hence its importance tool used deal with socioeconomic challenges faced by emerging economies. When we talk about “financial inclusion,” referring ease which people can access make use basic services, savings accounts, credit cards, insurance. In this paper, data from Global Findex Database World Bank create Financial Inclusion (Finclusion) Index, provides comparative measure different nations. primary purpose paper is evaluate HDI 105 countries; per capita development also compared across countries. study found had significant impact human general women particular. result valid countries, where considerably boosted positively correlated empowerment.