30, March 2026

FinTech Revolution and Financial Inclusion in India: A Secondary Data Analysis of Digital Payment Growth and Banking Access

VOLUME-10; ISSUE-3; MAR-2026

Author(s): Dr Raghuveer R

Authors Affiliations:

Faculty, MBA
Yuvarajas College (Autonomous), University of Mysore, Mysore

 

DOIs:10.2017/IJRCS/202603006     |     Paper ID: IJRCS202603005


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The rapid expansion of financial technology (FinTech) has significantly transformed the Indian financial ecosystem, particularly in advancing financial inclusion. Over the past decade, India has witnessed substantial growth in digital payment platforms, mobile banking, Unified Payments Interface (UPI), digital lending, and neo-banking services. This study examines the impact of the FinTech revolution on financial inclusion in India using secondary data from 2016–2023. The research analyzes indicators such as digital transaction volume, bank account penetration under the Pradhan Mantri Jan Dhan Yojana (PMJDY), mobile wallet adoption, and rural digital payment usage. The study adopts a descriptive and analytical research design, drawing data from the Reserve Bank of India (RBI), World Bank Global Findex Database, and government reports. The findings indicate that FinTech innovations have enhanced access, affordability, and efficiency of financial services, particularly for underserved and rural populations. Digital payment infrastructure such as UPI has played a critical role in reducing transaction costs and increasing transparency. However, challenges such as digital literacy gaps, cybersecurity risks, and infrastructural disparities continue to affect inclusive growth. The study concludes that FinTech serves as a powerful enabler of financial inclusion in emerging economies like India, but sustained regulatory support, technological innovation, and digital awareness initiatives are essential to ensure equitable and secure financial access.

FinTech, Financial Inclusion, Digital Payments, UPI, India, Digital Banking

Dr. R. Raghuveer (2026); FinTech Revolution and Financial Inclusion in India: A Secondary Data Analysis of Digital Payment Growth and Banking Access, International Journal of Research Culture Society,    ISSN(O): 2456-6683,  Volume – 10,   Issue –  3,  Available on – https://ijrcs.org/

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