The Government of India and private organizations continue to make a concerted effort to promote DFS-ecosystem growth. 10 different cashless payment modes, including banking cards, the United Payments Interface (UPI), mobile wallets, prepaid cards, digital banking, and more has been included under the Digital India Initiative. The government is aggressively promoting the idea of cashless transactions in both rural & urban community, but the question remains – How much of the Indian population are actually using the Financial Inclusion services?

Survey Objective

The Financial Inclusion Insights (FII) program responds to the need identified by multiple stakeholders for timely demand-side data and practical insights into digital financial services(DFS), including mobile money, and the potential for their expanded use among the poor.

The FII team implements nationally representative population surveys and qualitative research
studies to:

  • Track access to and demand for financial services, especially DFS.
  • Measure adoption and use of DFS among key underserved groups (females, poor, rural, etc.).
  • Identify drivers and barriers to further adoption of DFS.
  • Evaluate the agent experience and the performance of mobile money agents and
  • Produce actionable, forward-looking insights based on rigorous data to support product and service development and delivery.

Target Population:

Indian Young Adults (>15+), except the State of Jammu & Kashmir and the Union Territories of Andaman and Nicobar Islands.

Sample Design:

Market Xcel designed stratified multistage cluster sample of 47,132 adults for the survey conducted by Intermedia based on–

  • Indian town classes and three village classes on the 2011 census.
  • Random selection of villages (806) and towns (142).
  • Selection of wards in sampled towns.
  • Selection of one polling station per sampled ward.
  • Selection of 10 households per sampled ward and village.
  • Selection of one adult member per household using the Kish grid.
  • Face-to-face interviews administered at the household using tablet computers.

Market Xcel – India’s Top Survey Company

The scale of a survey determines subject specific challenges. People management and interview requires highly competent skills in order to overcome barriers as language, community culture, acceptance, readiness for the interviewee to answer questions and provide with actual information.

But for Market Xcel it’s a different scenario. Our 500+ trained personnel provide exceptional field support. So for us it is more about doing quality work than managing challenges.

With 13 offices in India and an overseas unit in Singapore, Market Xcel over the last 20 years have partnered with multiple national and international companies for qualitative, quantitative research across a variety of sectors.

Over the last decade the company completed 700+ projects with an aggregate business volume of Rs. 300 crores.

To read the full report on Financial Inclusion Insights click here: