A study on the role of financial technology (Fintech) in India’s financial inclusion

Abstract

The merging of technology (FinTech) with India's system has greatly sped up the nation's progress towards enhancing financial inclusion. This study explores how FinTech platforms are using intelligence, blockchain and mobile apps to offer available financial services to underprivileged groups. The study thoroughly explores how FinTech influences payments and provides access to services like micro savings and micro insurance as well as credit through platforms such as UPI and BHIM, in India's financial inclusion sector by analyzing government policies and private sector efforts to gauge its socio economic effects. The study wraps up by addressing the obstacles surrounding infrastructure security and regulatory frameworks while suggesting ways to tackle these issues and boost FinTechs role in promoting growth.