International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

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IoT and Web Technologies: Revolutionizing Microfinance in Semi-Urban India

Author(s) Shakti Kumar
Country India
Abstract Microfinance has long served as a vehicle for extending credit, savings, and insurance services to low-income households excluded from formal banking channels, and nowhere is this role more pronounced than in semi-urban India, where bank branch density remains thin and informal moneylending persists alongside organised microfinance institutions (MFIs) and self-help groups (SHGs). Over the past decade, the convergence of the Internet of Things (IoT) and web-based digital platforms has begun to reshape how microfinance is delivered, monitored, and consumed in these regions. This article examines the role of IoT-enabled devices — biometric authentication systems, GPS-enabled field tracking, and sensor-based monitoring — alongside web technologies such as online loan origination systems, digital payment gateways, cloud-based core banking platforms, and customer relationship management (CRM) systems, in transforming microfinance operations across semi-urban India. Using a descriptive and analytical research design supported by primary survey data from microfinance clients and secondary data drawn from regulatory and institutional reports, the study evaluates awareness, usage patterns, perceived benefits, and constraints associated with technology-enabled microfinance. The findings indicate that while digital and IoT-enabled services have meaningfully improved accessibility, transparency, and loan-repayment tracking, their diffusion remains uneven, constrained by digital illiteracy, inconsistent internet connectivity, cybersecurity apprehensions, and the upfront costs of implementation faced by smaller MFIs. The article concludes by outlining policy and institutional strategies to deepen technology-enabled financial inclusion in semi-urban India and identifies avenues for future research.
Keywords Microfinance, Internet of Things (IoT), Web Technologies, Financial Inclusion, Semi-Urban India, Digital Banking and Self-Help Groups
Field Computer
Published In Volume 8, Issue 3, May-June 2026
Published On 2026-06-23
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E-ISSN 2582-2160
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