Abstract

India has witnessed a tremendous growth in achieving financial inclusion in the last one decade. This rise in financial access is related to the advent of technology and increased usage of smartphones and internet. Various steps have been taken by the Govt. of India and commercial banks have helped in raising financial awareness, thereby further contributing to financial inclusion. This paper is a modest attempt to analyze the status and growth of digital financial access in India and to analyze the customer adoption and satisfaction with regards to digital financial inclusion in Chandigarh, Panchkula and Mohali. Primary and Secondary data has been collected from Chandigarh, Panchkula and Mohali, together known as Tricity, with a sample size of 200 respondents. There are various challenges and issues in the growth trajectory of financial services that must be resolved in order to create a financial environment that is inclusive of digital technology. It is imperative that regulatory methods be adjusted to preserve a balance between promoting financial innovation and addressing risks and barriers to financial stability.

Keywords: Financial Inclusion, Digitalization, Digital Finance, Financial Services