Socio-Economic Profiles of Street Venders and Financial Inclusion Perception: How Socio-Economic Characteristics of Street Vendors Shape Attitudes Toward Financial Inclusion in Jeypore Town of Koraput District, Odisha

Street vendors' access to formal financial services is severely limited by their socioeconomic features, particularly their poor income, low level of education, and informal status. Despite being essential to metropolitan economies, these circumstances frequently compel people to turn to high-interest, unofficial moneylenders. Objective: The current study aims to identify the factors that affect street vendors' adoption of financial inclusion and examine the operational efficacy of financial inclusion. Methodology: The study was based on a field survey conducted in the Koraput district of southern Odisha. In the Koraput district, 100 street vendors in Jeypore town were surveyed using questionnaires. Probit regression is used to identify the factors affecting the acceptance of financial inclusion. Finding and conclusion: Highly educated and well-off street vendors are more likely to embrace financial inclusion because they are risk averse, have an efficient capital base, greater family incomes, and more debt. Low-level street sellers, however, who have less resources and a smaller capital base, are at risk of financial exclusion. Because of their unofficial status, erratic revenue, and lack of paperwork, street sellers encounter major obstacles to financial inclusion. Low financial literacy, lack of collateral, exclusion from banking services, and restricted access to formal credit—which forces reliance on high-interest loans—are major issues. The inability to maintain minimal bank balances, harassment, and eviction all make these difficulties worse.