Premium
Poverty, wealth inequality and financial inclusion among castes in Hindu and Muslim communities in Uttar Pradesh, India
Author(s) -
Tiwari Chhavi,
Goli Srinivas,
Siddiqui Mohammad Zahid,
Salve Pradeep S.
Publication year - 2022
Publication title -
journal of international development
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.533
H-Index - 66
eISSN - 1099-1328
pISSN - 0954-1748
DOI - 10.1002/jid.3626
Subject(s) - financial inclusion , poverty , caste , hinduism , uttar pradesh , development economics , inequality , economics , financial services , economic growth , socioeconomics , demographic economics , political science , finance , mathematics , mathematical analysis , philosophy , theology , law
This study estimates poverty, wealth inequality and financial inclusion, for the first time, at the sub‐caste level in both Hindus and Muslims using a unique survey data collected from 7124 households in Uttar Pradesh, India, during 2014–2015. The results confirm the existing hypothesis that Brahmins, Thakurs and other Hindu general castes have higher wealth accumulation, lower poverty and lesser exclusion from formal financial services than Dalits. Exclusion from formal financial services forces Dalits to depend primarily on informal financial sources for borrowing—which leads to financial misfortune and further dragging them into a vicious cycle of poverty.