Researcher ORCID Identifier
https://orcid.org/0009-0001-5252-6253
Graduation Year
2025
Date of Submission
4-2025
Document Type
Open Access Senior Thesis
Degree Name
Bachelor of Arts
Department
International Relations
Reader 1
William Ascher
Terms of Use & License Information
Rights Information
2025 Kyra F Variyava
Abstract
Financial inclusion has evolved from mere bank account ownership to a broader imperative that encourages the active and consistent use of financial services to cultivate practices of savings and better financial management. Focusing on the underserved communities of Maharashtra’s microenterprise sector, this thesis evaluates the effectiveness of four central financial inclusion schemes: Pradhan Mantri MUDRA Yojana, Credit Guarantee Fund Trust for Micro and Small Enterprises, Stand-Up India, and Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi. This thesis develops a four-dimensional evaluative framework, assessing each scheme’s performance in accessibility, awareness and financial literacy efforts, adoption of digital services, and accountability and oversight mechanisms.
Through a combination of secondary research and field-based insights, the findings reveal that while Maharashtra is often perceived as an economically developed state, there are still gaps in the design and implementation of its financial inclusion efforts. Despite having access to bank accounts, many beneficiaries, particularly those operating in the informal sector, remain on the financial margins. Leveraging the strong social networks inherent to informal economies and fusing them with private-public partnerships, this thesis advocates for a community-based financial system- one that recognizes the informal sector as an integral part of economic development, rather than a vestige of the Indian economy.
Recommended Citation
Variyava, Kyra F., "Beyond the Bank Account: Financial Inclusion and Maharashtra's Microenterprises" (2025). CMC Senior Theses. 3945.
https://scholarship.claremont.edu/cmc_theses/3945
