What Constraints Financial Inclusion for the Transgender Community? Field-based Evidences from Odisha (India)

Among all the marginalized and stigmatized communities in Odisha, financial exclusion is high among the transgender community. This study discusses the status, importance and key challenges of financial inclusion among the transgender community of Odisha. This study tries to address the major constraints and challenges of financial inclusion among transgender community people in Odisha. To fulfil the above cited objective, in-depth interviews were conducted with 76 respondents. Additionally, the interviews were also taken from the transgender community's president and secretary from two regions of Odisha (Cuttack and Bhubaneswar). This study points out that transgender people are deprived from accessing adequate financial products and services from the formal financial institutions. Both demand side and supply side factors are responsible for this exclusion. On the demand side, their low financial literacy and awareness, lack of proper documents to open a bank account, lack of individual interest and lack of formal employment are responsible. On the other hand, supply side factors involve unfriendly behaviour of bank staff and officers, less provision of legal documents from the government, less spread of information, less awareness programmes or financial literacy programmes among the transgender community of Odisha.