Financial inclusion of marginalised key populations in southern India

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Article (peer-reviewed)

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Background: Financial inclusions of marginalized key populations (e.g. female sex workers and men who have sex with men) have not been given appropriate attention in the government's programs in India. This study explores the financial inclusions status and main hindrances for accessing the financial services among key populations in undivided Andhra Pradesh. Data and Methods: Data from a cross-sectional survey—the Behavioural Tracking Survey (BTS) -2014—conducted with key populations (e.g. FSWs (N = 2400) and MSM (N = 1200)), in undivided Andhra Pradesh state in India was used here. Frequency and bivariate statistical techniques were used here for the analysis. Results: In Andhra Pradesh, just over one-thirds of FSWs and more than half the MSM do not have a bank account.The main reason for not having a bank account is lack of money or having too little money among key populations. A very few had managed to invest in microfinance institutions, global benefits groups/groups saving schemes and health/life insurance policies. Informal institutions are the preferred source for loans among key populations. Conclusion: This study advocates for more support from government, NGOs, international agencies and financial institutions to enhance key populations' financial sustainability and a comprehensive financial inclusion among key populations.