| Abstract: |
The rapid proliferation of digital payment systems and financial technology (fintech) in India has created a paradigm shift in the delivery of financial services, particularly in rural and semi-urban geographies. This empirical study investigates the impact of digital payment systems and fintech innovations on financial inclusion in the rural areas of Durg District, Chhattisgarh, one of the key agrarian districts of central India. The study is anchored in primary survey data collected from 385 rural respondents across 12 gram panchayats, supplemented by secondary data from NABARD, RBI, and NPCI reports. The research employs descriptive statistics, chi-square analysis, and multiple regression modelling to assess the relationship between fintech adoption and key financial inclusion indicators including bank account ownership, credit access, insurance coverage, savings behaviour, and digital remittance usage. Findings reveal that UPI adoption, mobile banking usage, and Aadhaar-enabled payment services have significantly enhanced formal financial access among rural households, with post-fintech improvements ranging from 20.7% to 58.2% across key metrics. However, persistent barriers including low digital literacy, poor network connectivity, and fear of cyber fraud continue to constrain inclusive growth. The study contributes empirical evidence from a district-level perspective to the national discourse on digital financial inclusion, offering policy insights aligned with India's vision of a financially empowered rural economy. |
