Publication Details
Abstract
Purpose: This paper aims to explore the intersection of rural microfinance and digital inclusion, focusing specifically on the role of mobile banking in enhancing financial inclusion. The study aims to know the impact, challenges and opportunities of sustainable microfinance and digital inclusion in the Bilaspur region of Chhattisgarh.
Design/methodology/approach—This study employs a qualitative approach to analysing the impact of mobile banking on financial inclusion in the rural community. Data have been collected through interviews with residents, mobile banking users, microfinance institutions (MFIs), and relevant stakeholders. Additionally, secondary data from reports and studies on mobile banking and financial inclusion have been reviewed.
Findings-Mobile banking is an effective tool for promoting financial inclusion. In rural areas, it enhances convenience for customers, agents, and institutions and facilitates transactions. By leveraging digital technologies, mobile banking plays an important role in the relationship between banks and customers. With its help, customers get financial services in the easiest form, which also contributes to the economic development of the Indian Economy.
Limitations: This study has been done only in the rural areas of the Bilaspur region of Chhattisgarh, so it represents this area only. The data were collected from microfinance customers only, so it does not cover all the people of this region. The results of this study may vary from area to area.
Practical Implications: This study will help with digitization in villages. It will help us understand the problems faced in using mobile banking in villages and how mobile banking makes transactions easier.
Originality—This study's highlight is its consideration of the indirect effect of technological innovation on MFI efficiency. It also shows the impact of mobile banking implementation on financial inclusion.