[Economics Seminar] Does Financial Inclusion Mitigate Social Exclusion?
Radeef Chundakkadan
Dear students,
Please find below the details of seminar by Dr. Rikhia Bhukta scheduled on January 28, 2026 (Wednesday) in the Seminar Room, Department of Economics, from 3:30pm-5pm.
Dr. Rikhia Bhukta
Title: Does Financial Inclusion Mitigate Social Exclusion?
Abstract
This study examines the impact of financial inclusion in reducing caste-based social exclusion using a quasi-experimental setup involving a 2005 branch expansion policy of RBI and employing a regression discontinuity framework. The findings reveal a significant increase in consumption and a reduction in poverty among marginalized castes compared to non-marginalized castes. As mechanisms, we find a reduction in interest rate discrimination in the informal credit market and wage discrimination in labor market. Additionally, we find a spillover of these impacts on taste-based discrimination measures such as the practice of untouchability, social exclusion and caste-based hate crimes. This study underscores the role of the formal banking sector in mitigating deep-rooted social norms such as caste-based discrimination.
Bio-Sketch
Rikhia Bhukta has recently completed PhD in Economics from the Department of Economic Sciences at IIT Kanpur. She is currently working as a short-term consultant at the World Bank Africa Gender Innovation Lab. Her research interests lie in development economics, applied microeconomics, gender economics, identity-based exclusion, household finance, labor economics and energy economics. More specifically, she is interested in understanding how social norms play a role in shaping public policy outcomes and how restrictive social norms can be shifted through effective policy intervention. Her work aims to improve the welfare of women and marginalized castes in India by shifting the restrictive norms imposed on them. Additionally, she has been actively researching on the policy levers to reduce gender-based violence, and is currently associated with a research group supported by the World Bank Africa Gender Innovation Lab, UN Women and Prevention Collaborative. Her work has been published in internationally reputed journals like Journal of Economic Behavior and Organization, Energy Economics and Journal of Money, Credit and Banking. Rikhia holds a bachelor's degree and a master's degree in economics from Jadavpur University, Kolkata. She is a research affiliate at the Global Labor Organization (GLO) and a fellow at the Sustainable Energy Transitions Initiative (SETI).
Thank you.
Regards,
Radeef Chundakkadan
Please note that the seminar starts at 3 pm tomorrow.