International Journal For Multidisciplinary Research

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Volume 8 Issue 4
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FinTech-Driven Financial Inclusion in India: A Systematic Literature Review and Future Research Agenda

Author(s) Mr. Abhilash Sahadevrao Borade, Dr. Hanumant Shriram Patil
Country India
Abstract Abstract
India's financial system has undergone significant transformation over the past decade. The implementation of Jan Dhan-Aadhaar-Mobile (JAM) Trinity and phenomenal growth in Unified Payments Interface (UPI) has taken access to financial services closer to hundreds of millions of citizens, breaking down traditional barriers of distance, paperwork, and expensive transactions. Access alone, however, is not equivalent to real financial inclusion. Many Indians now hold bank accounts but struggle to make productive use of formal financial services to meet their financial needs.
This systematic literature review (SLR) brings together evidence from 86 peer-reviewed studies published from the year 2015 to 2026, using literature sources of Scopus, Web of Science, and UGC-CARE-listed journals. Using PRISMA 2020 and the PSALSAR framework, this review asks one practical question: has FinTech actually changed people's financial lives in India, or has it mostly changed their ability to make digital payments? The findings are discussed under five interconnected themes: determinants of FinTech adoption, the gap between financial access and financial outcomes, the mediating role of Digital Financial Literacy (DFL), gender and rural dimensions, and India's regulatory framework. Across all five themes, the finding is consistent and a little uncomfortable: FinTech has done well at the first job — expanding access — and struggled at the second job, which is making that access count. Based on existing studies, there appears to be considerable geographic disparity between FinTech-enabled Financial Inclusion studies – there were no peer-reviewed studies on FinTech-enabled Financial Inclusion for the Latur district, and sparse on this topic for the overall Marathwada region.
Keywords FinTech; Financial Inclusion; India; UPI; PMJDY; JAM Trinity; Digital Financial Literacy; Rural Communities; Women; SHG; Marathwada; Latur; Systematic Literature Review; PRISMA 2020
Field Business Administration
Published In Volume 8, Issue 4, July-August 2026
Published On 2026-08-05
DOI https://doi.org/10.36948/ijfmr.2026.v08i04.85187
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CrossRef DOI prefix of IJFMR is 10.36948/ijfmr

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