Abstract

This study examines the impact of financial technology (FinTech) on financial inclusion in India from 2020 to 2024. Over the past five years, India has witnessed a digital revolution in its financial sector, driven by initiatives like UPI, Aadhaar-linked banking, mobile banking apps, and government schemes such as PMJDY and MUDRA. Using secondary data from government and regulatory sources, this study analyzes trends in digital payments, bank account penetration, access to credit, and rural banking infrastructure. The findings indicate a strong positive correlation between FinTech adoption and increased access to financial services, particularly among rural populations and women. The study concludes that FinTech has become a crucial driver of inclusive financial growth, although certain barriers such as digital literacy and infrastructure gaps still persist. This paper provides insights for policymakers, financial institutions, and stakeholders aiming to build a more inclusive financial ecosystem in the digital age.

Authors

M. Dinesh Kumar
Mannar Thirumalai Naicker College, India

Keywords

Financial Inclusion, Financial Technology (FinTech), Digital Banking, UPI, PMJDY, Mobile Banking, Aadhaar, MUDRA Loans, India, Rural Finance