Report: The costs of using Buy Now, Pay Later (BNPL) products

Over the last three decades, financial inclusion has become a policy objective, not just in India or amongst the emerging economies but also in high-income/developed economies. Though financial inclusion as a policy has advanced in its own course, there remains a significant lack of facts that establish consensus about financial inclusion at the level of individuals and households. Currently, there is only limited high-quality data available on how much access to finance is available to households, how this access is being used by the households, and how this affects the economic well-being of the households. These three dimensions form the input-output-outcomes trio that is critical for evaluating policy initiatives and what needs to be done next.  

To address this gap,  through this new workstream, Dvara Research and Northern Arc Capital in collaboration with xKDR seek to design and create a financial inclusion measurement system. The system aims to capture the input-output-outcomes for households across India’s vast geographic, ethnic, cultural, and socio-economic spectrum to highlight where the gaps are in India’s financial inclusion. 

The financial inclusion measurement system proposed by this workstream can be used by academics, practitioners, and policymakers to capture and monitor changes in financial inclusion in response to changes in financial inclusion improvement initiatives. 



In this paper, we review the literature on what constitutes financial well-being of a household and how it can be visualised as the outcome of financial inclusion.
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In this paper, we create and validate a composite demand-side financial inclusion index to contribute to the literature on the measurement of financial inclusion.
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In this paper, we demonstrate that in months where noaa sees a belowmedian value for the number of cloud-free images, there is a downward bias in the observed radiance
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In this paper, we examine the link between the heterogeneity of the quality of the land records infrastructure across states and the access to credit by households in these states using two new data-sets for the analysis.
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As part of the Emerging Markets Conference, 2020, organised by xKDR, CFS, S.P.Jain Institute of Management Research, and Vanderbilt Law School, we hosted a panel discussion on financial inclusion measurement. 

Doing Better on Measuring Financial Inclusion
Wednesday, December 16th, 20:15 – 21:15 IST


Dvara Research Foundation and NorthernArc Capital is conducting a one-day workshop on July 17, 2021. The workshop will feature five research papers and a one-panel discussion. The workshop aims to cover presentations and discussions across the following set of research topics:


  • Household portfolio choice
  • Access to credit
  • Personal insolvency
  • Financial inclusion
  • Impact of payments and fintech
  • Consumer protection in retail finance
  • Regulation of retail financial markets


Click here to access the agenda of the workshop.