Digital financial inclusion: A payoff of financial technology and digital finance uprising in India

Title

Digital financial inclusion: A payoff of financial technology and digital finance uprising in India

Creator

Ravikumar T.

Description

Technological inventions and innovations paved a way for upheaval in the financial market. New technologies such as the internet, artificial intelligence, machine learning, big data, biometric identification, and blockchain technology brought new financial technologies (Fintechs) namely Unified Payment Interface, Immediate Payment System, and Mobile Money into existence. As a result of the development of Fintechs, digital finance companies and digital financial services and products emerged and got well-liked among the people because of their convenient, speedy, simple, and user-friendly functions. In fact, digital finance companies work a mile further, in the name of digital financial inclusion, by serving excluded, marginalized, neglected individuals and Small and Medium Enterprises through their innovative, affordable, quality, and speedy digital financial services and products. This article focuses on Fintechs, digital finance, and their role in digital financial inclusion in India using the existing sources of the World Bank, Reserve Bank of India, National Payment Corporation of India, and United Nations Organizations. IJSTR 2019.

Source

International Journal of Scientific and Technology Research, Vol-8, No. 11, pp. 3434-3438.

Date

2019-01-01

Publisher

International Journal of Scientific and Technology Research

Subject

Digital finance; Digital financial inclusion; Digital financial products and services; Financial inclusion; Financial system; Fintech; India

Coverage

Ravikumar T., CHRIST (Deemed to be University), Bangalore, India

Rights

Restricted Access

Relation

ISSN: 22778616

Format

Online

Language

English

Type

Article

Identifier

https://www.scopus.com/inward/record.uri?eid=2-s2.0-85075428187&partnerID=40&md5=8035a38ecc850a0fc3ae21725742529b