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Digital financial inclusion: next frontiers—challenges and opportunities

India’s Financial Inclusion journey has been phenomenal in the last decade and expressly promoted by the Government of India through their Digital India Movement & Pradhan Mantri Jan Dhan Yojana. Reduction of poverty and addressing the challenges of ensuring sustainable income could become a key...

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Detalles Bibliográficos
Autores principales: Malladi, Chandra Mohan, Soni, Rupesh K., Srinivasan, Sanjay
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer India 2021
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8371586/
http://dx.doi.org/10.1007/s40012-021-00328-5
Descripción
Sumario:India’s Financial Inclusion journey has been phenomenal in the last decade and expressly promoted by the Government of India through their Digital India Movement & Pradhan Mantri Jan Dhan Yojana. Reduction of poverty and addressing the challenges of ensuring sustainable income could become a key factor to achieve an inclusive society. Information and Communication Technology are providing access to unbanked population progressively and helping to bring them into the banking segment. Digital Technologies are driving usage and making a positive impact on livelihood of citizens. In this paper we are discussing on what is achieved in Financial Inclusion so far and what next and how do we leverage and harness digital technologies to achieve an inclusive society. This paper enlists various challenges that continue to prevail in achieving an inclusive society. We have put forth recommendations on addressing the key challenges and qualified the importance of collaboration and transparency between all the key stakeholders to achieve an inclusive ecosystem.