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2023 | OriginalPaper | Chapter

6. Expanding Financial Inclusion Through Fintech and E-governance

Authors : Vinay Kandpal, Deep Chandra, Narendra N. Dalei, Jatinder Handoo

Published in: Financial Inclusion in Circular Economy

Publisher: Springer International Publishing

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Abstract

Currently, a number of people have access to banking products thanks to numerous digital initiatives. Governments around the world have launched a number of programs to promote inclusive growth and financial inclusion. Opening a Basic bank account with the Jan Dhan Scheme is available in India, with simplified KYC procedures and no minimum balance requirement. It is simpler to complete financial transactions on mobile devices thanks to mobile connectivity. Despite having these accounts, many first-time customers are unable to use the financial ecosystem. Instead of improving the delivery of traditional services, digitalization now aims to offer businesses in the financial sector fundamentally new business opportunities and models. Innovative client engagement strategies, new financial instruments, financial businesses, and financial technologies are all provided by Fintech companies and forward-thinking banking and financial services institutions. To reach adults, workplace financial education is crucial.

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Metadata
Title
Expanding Financial Inclusion Through Fintech and E-governance
Authors
Vinay Kandpal
Deep Chandra
Narendra N. Dalei
Jatinder Handoo
Copyright Year
2023
DOI
https://doi.org/10.1007/978-3-031-22723-3_6