Impact of Financial Literacy, Institutional Framework and Social Network on Financial Inclusion: A Study of Lower Middle Income Group

Abstract

Aim of the Study: Financial inclusion allows individuals to access financial products and services that help in reducing poverty and encourage economic growth. The aim of this study is to examine the impact of social network, institutional framework and financial literacy on financial inclusion.

Methodology: Current study is based on cross-sectional quantitative research design. This study has employed a sample of 300 lower middle income group household heads residing in District Rawalpindi. Quantitative data has been analyzed through assessment of measurement model and structural model using SMART PLS.

Findings & Implications: The findings of this study found that institutional framework, social network and financial literacy have significant impact on financial inclusion. The results of this study provide insights and implications of financial inclusion for policy makers and regulatory bodies.