The Role of Fintech in Financial Inclusion: A Survey of Low-Income Individuals in Kolkata

Souvik Banerjee ()
Additional contact information
Souvik Banerjee: Management Development Institute Murshidabad

A chapter in Trends and Challenges of Electronic Finance, 2025, pp 249-260 from Springer

Abstract: Abstract This study explores the role of Financial Technology (Fintech) in fostering financial inclusion among low-income individuals in Kolkata, India. Employing a quantitative research design, data was collected through a structured survey administered to 500 respondents between July and September 2023. The survey focused on demographic information, financial behaviors, and perceptions of Fintech usage. Data analysis included descriptive statistics, correlation analysis, and regression analysis using SPSS software. The findings reveal significant correlations between Fintech adoption and variables such as monthly income, trust in digital payments, and familiarity with specific Fintech platforms like Unified Payments Interface (UPI). Regression analysis further indicates that higher-income levels and greater trust in digital payments predict increased Fintech adoption and financial inclusion. However, disparities in access to formal credit channels persist among low-income populations, highlighting the need for targeted interventions to improve financial literacy and promote responsible borrowing practices. These findings underscore the potential of Fintech to empower marginalized communities and contribute to inclusive economic development. The study emphasizes the importance of public–private partnerships, regulatory frameworks, and targeted outreach programs to maximize the impact of Fintech in promoting financial inclusion in urban India.

Keywords: Financial Technology; Fintech; Financial Inclusion; Low-Income Individuals; Kolkata; India (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-96-3304-3_14

Ordering information: This item can be ordered from
http://www.springer.com/9789819633043

DOI: 10.1007/978-981-96-3304-3_14

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().