Published Online:July 2025
Product Name:The IUP Journal of Accounting Research & Audit Practices
Product Type:Article
Product Code:IJARAP220725
DOI:10.71329/IUPJARAP/2025.24.3.469-488
Author Name:K V R Satya Kumar, I Nageswara Rao, K Srinivasa Rao and Thummala Sudheer
Availability:YES
Subject/Domain:Finance
Download Format:PDF
Pages:469-488
The paper aims to understand digital financial inclusion, identify the factors that drive financial innovation for inclusion, and analyze individuals’ perceptions of these innovations. The study analyzes digital financial inclusion through the perceptions of 600 respondents in Telangana state, India, using judgmental and convenience sampling. A 5-point Likert scale questionnaire measured four key dimensions: cybersecurity, digital payments, financial infrastructure, and mobile banking. Descriptive statistics, t-tests, ANOVA, and factor analysis were applied to assess the differences based on gender, income and age. The results showed significant gender differences in mobile banking adoption and cybersecurity with income affecting perceptions of digital payments and credit access. The factor analysis indicated that cybersecurity accounted for the most variance. The findings emphasize the need for tailored financial innovations to enhance inclusion through AI-driven solutions and improved digital infrastructure.
Modern financial innovations, such as digital payments, mobile banking, fintech, blockchain, digital identity, microinsurance and various types of insurance, play a vital role in overcoming the barriers to financial inclusion in India. These technologies reach citizens in both remote rural and urban areas in India. This paper examines the ways in which these technologies can enhance financial inclusion based on surveys respondents’ thoughts on financial innovations that broaden access.