• Ms Anshu Singh

The purpose of this study is to examine why traditional methods of financial education and literacy have failed in augmenting financial inclusion. The paper tries to establish that there are numerous behavioural and psychological barriers to financial inclusion. These can be overcome only by building financial capability which in turn leads to financial prosperity. The paper proposes a conceptual framework of behavioural interventions to build requisite financial capability for better financial decision making. The study concludes that formal financial education and literacy is not suitable in the long run to build financial capability. A financial capability framework has also been developed within which the intervention is to be delivered. It provides an intervention model, thereby listing important components of delivery mechanism and messages for better uptake and usage of financial products and services. This helps in building innovative technological solutions for traditional problems of financial education. The author has followed an exploratory approach by documenting relevant case studies, across geographies to arrive at logical conceptual framework. The study can prove useful in development of hypothesis concerning variables like “Technological Innovations” and its interrelation with other aspects like “Behavioural Outcomes”, “Financial Capability”, “and Financial Education”, “Financial Decision Making” and so on.

Financial Inclusion, Behavioural intervention, Behavioural Economics, Financial Capability, Financial literacy, Delivery mechanism, Behavioural Innovations

"From Access to Usage: Behavioural Economics Interventions for Better Financial Capability", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 4, page no.544-557, April-2019, Available :http://www.jetir.org/papers/JETIR1904O90.pdf

"From Access to Usage: Behavioural Economics Interventions for Better Financial Capability", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 4, page no. pp544-557, April-2019, Available at : http://www.jetir.org/papers/JETIR1904O90.pdf