| Abstract: |
Financial inclusion remains a central policy objective in developing economies, with digital payment systems and financial technology (fintech) emerging as transformative instruments to bridge the longstanding gap between formal financial institutions and rural populations. India, with its vast and heterogeneous rural landscape, presents a compelling context for examining the intersection of digital finance and grassroots inclusion. This review research paper undertakes a meta-analytic investigation of extant literature on the impact of digital payment systems and fintech innovations on financial inclusion in rural India, with a focused case study lens directed at Durg District, Chhattisgarh. The paper synthesises evidence from peer-reviewed studies, government policy reports, and empirical surveys published between 2015 and 2024, critically examining the transformative potential and structural limitations of digital financial infrastructure in rural settings. Key themes explored include the role of Unified Payments Interface (UPI), Jan Dhan Yojana-linked digital accounts, mobile banking penetration, Business Correspondent (BC) networks, and government-to-person (G2P) digital transfers. Evidence from Durg District illustrates patterns consistent with broader national trends, while also revealing region-specific challenges related to digital literacy, internet connectivity, and socioeconomic stratification. The review identifies a moderate-to-high positive association between fintech adoption and financial inclusion indicators, particularly savings behaviour, credit access, and insurance uptake among rural women and marginalised communities. The paper concludes with research gaps and recommendations for scalable, inclusive fintech policy frameworks. |
