Assessing Rural Livelihoods: Financial Inclusion and SocioEconomic Well-Being in Nayagarh, Odisha

  • Authors

    • Mr. Mrutyunjay Panda Research Scholar, Silicon University, Bhubaneswar, Odisha, India-751024
    • Mr. Bidyadhar Padhi Associate Professor, Silicon University, Bhubaneswar, Odisha, India-751024
    • Mr. Mahendra Prasad Agasty Professor, Silicon University, Bhubaneswar, Odisha, India-751024
    • Dr. Prakash Chandra Dash Associate professor, IMIS, Bhubaneswar, Odisha, India-751 007
    https://doi.org/10.14419/dt2zxb28

    Received date: September 5, 2025

    Accepted date: October 23, 2025

    Published date: November 6, 2025

  • Financial Inclusion; Rural Livelihoods; Digital Banking; Economic Stability; Mental Health; Social Cohesion

  • Abstract

    This study explores the link between financial inclusion and the overall well-being of rural households in Nayagarh, ‎Odisha, using a mixed-methods approach that combines survey data from 600 households with insights from focus ‎group discussions and stakeholder interviews. The findings suggest that financial inclusion significantly improves ‎financial well-being by increasing household income, reducing dependence on informal credit, and enhancing ‎financial stability. Additionally, it has a positive impact on social well-being, enabling households to participate ‎more in their communities and build social connections. Financial inclusion also reduces financial stress, promotes ‎psychological well-being, and empowers women in decision-making. The study highlights the importance of ‎inclusive policies that integrate financial services with broader rural development initiatives and suggests that ‎policymakers should consider multiple dimensions of well-being, including perceived financial security and social ‎participation. By recognizing financial inclusion as a key driver of social, psychological, and livelihood security, the ‎study provides valuable insights for policymakers and practitioners‎.

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    Panda, M. M., Padhi, M. B., Agasty, M. M. P. ., & Dash, D. P. C. . (2025). Assessing Rural Livelihoods: Financial Inclusion and SocioEconomic Well-Being in Nayagarh, Odisha. International Journal of Accounting and Economics Studies, 12(7), 241-252. https://doi.org/10.14419/dt2zxb28