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Effects of Financial Literacy on Financial Inclusion: Evidence from Nepal’s Gandaki Province

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Intelligent Computing and Optimization (ICO 2023)

Part of the book series: Lecture Notes in Networks and Systems ((LNNS,volume 855))

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Abstract

Financial inclusion is regarded as an essential instrument for socioeconomic development. It has become a big issue in developing nations, as many people are still economically excluded. Different factors including financial literacy significantly influence financial inclusion. This study aims to determine how financial literacy impacts financial inclusion. The study area is the province of Gandaki in Nepal, from which a sample of one thousand respondents is selected for data collecting. For the study of independent and dependent variables, the Partial Least Squares Structural Equation Modelling method is applied. The examination of the data indicates that financial literacy considerably improves financial inclusion in the study region. This study concludes that financial inclusion can be improved by educating individuals on the significance of financial products and services. These findings aid policymakers in implementing financial literacy programs to improve financial inclusion.

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Author information

Authors and Affiliations

  1. Faculty of Management Sciences, Shoolini University, Bajhol, (HP), 173229, India

    Deepesh Ranabhat & Narinder Verma

  2. Faculty of Management Studies, Pokhara University, Pokhara-30, Kaski, Nepal

    Pradeep Sapkota & Shanti Devi Chhetri

Authors
  1. Deepesh Ranabhat
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  2. Narinder Verma
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  3. Pradeep Sapkota
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  4. Shanti Devi Chhetri
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Corresponding author

Correspondence to Deepesh Ranabhat .

Editor information

Editors and Affiliations

  1. Faculty of Electrical and Electronics Engineering, Ton Duc Thang University, Modeling Evolutionary Algorithms Simulation and Artificial Intelligence, Ho Chi Minh City, Vietnam

    Pandian Vasant

  2. Department of Computer Science, Chittagong University of Engineering & Technology, Chittagong, Bangladesh

    Mohammad Shamsul Arefin

  3. Federal Scientific Agroengineering Center VIM, Laboratory of Non-traditional Energy Systems, Russian University of Transport, Department of Theoretical and Applied Mechanics, 127994 Moscow, Russia;, Moscow, Russia

    Vladimir Panchenko

  4. Department of Computer Science, UOW Malaysia KDU Penang University Colleage, George Town, Malaysia

    J. Joshua Thomas

  5. Northwest University, Mmabatho, South Africa

    Elias Munapo

  6. Faculty of Engineering Management, Poznań University of Technology, Poznan, Poland

    Gerhard-Wilhelm Weber

  7. Facultad de Ciencias Económicas y Empresariales, Universidad Panamericana, Mexico City, Mexico

    Roman Rodriguez-Aguilar

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© 2023 The Author(s), under exclusive license to Springer Nature Switzerland AG

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Ranabhat, D., Verma, N., Sapkota, P., Chhetri, S.D. (2023). Effects of Financial Literacy on Financial Inclusion: Evidence from Nepal’s Gandaki Province. In: Vasant, P., et al. Intelligent Computing and Optimization. ICO 2023. Lecture Notes in Networks and Systems, vol 855. Springer, Cham. https://doi.org/10.1007/978-3-031-50158-6_3

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