The Impact of Fintech and Digital Financial Services on Financial Inclusion in India

Abstract

With an emphasis on how digital platforms are changing financial access for marginalized groups, this research explores how fintech and digital financial services are promoting financial inclusion in India. The research analyzes present information using a secondary qualitative analysis to identify themes including policy support, technological difficulties, accessibility, trust and security issues, and economic empowerment. Results show that by breaking through the limitations of traditional banking, particularly in rural regions, fintech innovations like peer-to-peer lending and mobile banking have greatly improved financial access. However, there are still issues that prevent wider adoption, like limited digital literacy, poor infrastructure, and data security worries. The research emphasizes how important government programs and legal frameworks are to fostering fintech's expansion and advancing safe, approachable services for a range of communities. The research findings are informative, and policymaker collaboration with the financial institutions and fintech developers may be used to develop an open financial ecosystem in India that also supports economic inclusion across demographics