International Journal of Social Science & Economic Research
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Title:
FINANCIAL INCLUSION: EMPIRICAL STUDY OF BRICS COUNTRIES

Authors:
Dr. V. B. Khandare

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Dr. V. B. Khandare
Associate Professor, Department of Economics, Shri Asaramji Bhandwaldar College, Deogaon Rangari Dist. Aurangabad, M.S., India-431115.

MLA 8
Khandare, Dr. Vilas Bhikaji. "FINANCIAL INCLUSION: EMPIRICAL STUDY OF BRICS COUNTRIES." Int. j. of Social Science and Economic Research, vol. 4, no. 5, May 2019, pp. 3319-3334, ijsser.org/more2019.php?id=249. Accessed May 2019.
APA
Khandare, D. (2019, May). FINANCIAL INCLUSION: EMPIRICAL STUDY OF BRICS COUNTRIES. Int. j. of Social Science and Economic Research, 4(5), 3319-3334. Retrieved from ijsser.org/more2019.php?id=249
Chicago
Khandare, Dr. Vilas Bhikaji. "FINANCIAL INCLUSION: EMPIRICAL STUDY OF BRICS COUNTRIES." Int. j. of Social Science and Economic Research 4, no. 5 (May 2019), 3319-3334. Accessed May, 2019. ijsser.org/more2019.php?id=249.

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Abstract:
This study aims to measure financial inclusion of BRICS' countries with the help of financial inclusion index during the period 2005-2014. For measuring Index of Financial Inclusion (IFI), the Financial Services Availability Index (FSAI), which includes 6 variables and Financial Services Usage Index (FSUI), which include 4 variables, is calculated. China leads with the highest value of IFI (0.67) followed by Brazil (0.48), Russia (0.32), India (0.29) and South Africa (0.18) IFI value during the selected period. Only China belongs to the high IFI in BRICS with IFI value i.e. 0.5.While Brazil and Russia from the group are in between 0.3 and 0.5 during the select period. Remaining two countries India and South Africa have a low IFI values, in between 0.01 and 0.3 during the study period. To conclude the financial inclusion of BRICS' countries is not impressive except China during the period (2005-2014).