The present study examines how successful we are in achieving financial inclusiveness, investigating the influence of the drivers of financial inclusion (FI), financial literacy, and financial initiatives on sustainable growth. The drivers of FI considered are digitalization, technology, and usage. This study proceeds with a difference and investigates the impact of the drivers on sustainable growth through the mediation of financial literacy. The basic purpose is to understand whether mediation assists in enhancing the impact of the drivers of FI on sustainable growth. Sustainable growth is measured by knowing customers’ perceptions regarding FI success through the achievement of the SDGs, viz., SDGs 1, 3, 5, 8, 9, 10, 11, and 17, especially related to poverty alleviation; removing gender inequality; and promoting industrial growth. The study uses PLS-SEM modeling to investigate the impact of the drivers of FI, financial literacy, and financial initiatives on sustainable growth. The results highlight that usage, digitalization, and FinTech emerged as significant drivers of FI. The study assesses the direct impact of the drivers of FI on sustainable growth and the indirect effect through the mediation of financial literacy. This is indicative of the importance of financial literacy in accentuating the impact of the drivers on sustainable growth. However, financial initiatives positively impact sustainable growth in the northern region of India as well.

The current research empirically analyses the determinants of financial inclusion (FI) for BRICS (Brazil, Russia, India, China and South Africa) nations using the no. of depositors and Automated Teller Machines/user as dependent variables, a proxy for FI from 2004 to 2019. The study employs fixed-effect, cross-section random-effect and simple panel least square techniques to determine FI for different BRICS countries. The empirical findings of fixed effect and cross-section random highlight that population and internet users affirmatively and significantly influence FI. Simple panel least square analysis indicates that domestic credit to the finance sector, population, internet users and bank branches positively influence the no. of depositors in these economies. Gross domestic product (GDP) and domestic credit to private sector (DCPS) inversely affected FI. Results of the second measure of FI (ATM per user) show the exchange rate of domestic credit to the private sector, and GDP positively influences FI. These findings will induce policymakers to take corrective actions by considering the significant factors to boost FI in respective BRICS economies.

This study examines how Digital Literacy (DL) fosters Entrepreneurial Growth (EG) among higher education students in India, investigating the mediating roles of Entrepreneurial Self-Efficacy (ESE), Financial Resilience (FR), and Risk-Taking Propensity (RTP). Grounded in Social Cognitive Theory, the Resource-Based View, and the Financial Capability frameworks, the study positions DL as a foundational capability that builds psychological confidence and financial adaptability, both of which are essential for entrepreneurial success. Data were collected from 412 final-year undergraduate and postgraduate students across 15 universities in North India using multi-stage sampling and analyzed through PLS-SEM with 5,000 bootstrap resamples. The results confirm that DL strongly predicts EG, ESE, FR, and RTP. FR emerges as the dominant proximal predictor and mediator of EG, whereas RTP does not independently predict growth. The model demonstrates substantial explanatory power (R ² = 0.625 for EG), affirming the theoretical framework. The findings highlight the urgent need to embed digital literacy, self-efficacy pedagogy, and financial resilience training into entrepreneurship curricula in emerging economies.

This study examines the relationships among digital financial inclusion drivers, financial literacy, institutional support frameworks, and inclusive growth outcomes in India. Despite significant policy efforts to expand digital account ownership through initiatives such as the Pradhan Mantri Jan Dhan Yojana and the Unified Payments Interface, gaps persist in translating access into developmental outcomes. Drawing on the capability approach, institutional theory, and diffusion of innovations theory, the research investigates whether digital access drives inclusive growth or requires complementary mechanisms. Data were collected from 3,120 banked individuals across six Northern Indian states between November 2022 and April 2025 using stratified random sampling. Partial least squares structural equation modelling was used to test the hypothesised relationships. Findings reveal that digital access does not directly influence inclusive growth; rather, financial literacy fully mediates this relationship, explaining the role of technology in capability conversion. Institutional support frameworks independently contribute to inclusive growth, highlighting the importance of policies, programmes, and schemes. The model explains 89.8% of the variance in inclusive growth, with financial literacy as the strongest predictor. These results advance information-technology-for-development theory by demonstrating complementarity between technology, capabilities, and institutions, addressing digital divide debates by emphasising capability formation and institutional support over access alone.