Technology Paving Way for Financial Inclusion in India-A Reality Check

Abstract

The current study was taken up to explore and analyze the role played by information, communication, and technology in expanding the financial outreach, among the un-served and under-served in the society. The study divulged the efforts made by the Government of India and the initiatives taken by the Reserve Bank of India, to create an efficient ecosystem for the technology companies and banking organizations, to leverage the high mobile density in the country, for enlarging their market penetration and outreach. The research also disclosed that though in recent years the electronic payments and transfers increased manifold times, yet the untapped potential is unbelievable.