Journal of Economic, Finance Research and Review (JEFRR) · Research article · Open access
Financial Inclusion and Digital Banking: Assessing the Role of FinTech in Rural Economic Development
Dr. Ram Ratan
6 July 2025 · Vol. 1, Issue 1, pp. 9-17
DOI: 10.65150/EP-jefrr/V1E1/2025-A002 (registration with Crossref in progress)
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What is this article about?
Financial inclusion has emerged as a cornerstone of equitable economic development in recent years, particularly in rural and underbanked regions. This research paper examines how digital banking innovations and financial technologies (FinTech) have contributed to enhancing financial inclusion and promoting sustainable economic growth in rural areas.
Article at a glance
- Published
- 6 July 2025
- Volume / issue / pages
- Vol. 1, Issue 1, pp. 9-17
- ISSN
- 3051-3650 (online) · 3051-3642 (print)
- Licence
- CC BY 4.0 — free to read and reuse with attribution
- Peer review
- Double-blind, at least two independent reviewers
- Publisher
- EP Journals Group
Abstract
Financial inclusion has emerged as a cornerstone of equitable economic development in recent years, particularly in rural and underbanked regions. This research paper examines how digital banking innovations and financial technologies (FinTech) have contributed to enhancing financial inclusion and promoting sustainable economic growth in rural areas. By bridging the gap between formal financial services and underserved populations, FinTech has redefined access to credit, savings, insurance, and transactional services. The study explores the operational mechanisms of digital banking platforms, mobile wallets, micro-lending services, and other technology-driven financial instruments. Using a combination of secondary data and primary field responses from rural users and banking professionals in India and Kenya, the study highlights how digital financial ecosystems are fostering entrepreneurship, reducing dependency on informal lending, and increasing household financial security. The findings underscore that while FinTech has significantly expanded the reach of financial services, challenges related to digital literacy, infrastructure, cybersecurity, and regulatory gaps continue to affect its potential impact.
Keywords: Financial Inclusion, FinTech, Digital Banking, Rural Development, Mobile Banking, Microfinance, Digital Payments, Economic Empowerment, Financial Access, Financial Literacy
Cite this article
Dr. Ram Ratan (2025). Financial Inclusion and Digital Banking: Assessing the Role of FinTech in Rural Economic Development. Journal of Economic, Finance Research and Review, 1(1), 9-17. https://www.ep-journals.org/articles/financial-inclusion-and-digital-banking-assessing-the-role-of-fintech-d6ee7b07
@article{Dr2025,
title = {Financial Inclusion and Digital Banking: Assessing the Role of FinTech in Rural Economic Development},
author = {Dr. Ram Ratan},
journal = {Journal of Economic, Finance Research and Review},
year = {2025},
volume = {1},
number = {1},
pages = {9-17},
url = {https://www.ep-journals.org/articles/financial-inclusion-and-digital-banking-assessing-the-role-of-fintech-d6ee7b07}
}Questions about this article
Who wrote this article?
Dr. Ram Ratan.
Where and when was it published?
In Journal of Economic, Finance Research and Review, Volume 1, Issue 1, pages 9-17, published by EP Journals Group on 6 July 2025.
Is this article free to read?
Yes. It is open access under a Creative Commons Attribution 4.0 (CC BY 4.0) licence, so anyone can read, share and reuse it with attribution.
What is the DOI of this article?
10.65150/EP-jefrr/V1E1/2025-A002. Registration with Crossref is in progress.
How do I cite this article?
APA: Dr. Ram Ratan (2025). Financial Inclusion and Digital Banking: Assessing the Role of FinTech in Rural Economic Development. Journal of Economic, Finance Research and Review, 1(1), 9-17. https://www.ep-journals.org/articles/financial-inclusion-and-digital-banking-assessing-the-role-of-fintech-d6ee7b07
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