Published Online:September 2025
Product Name:The IUP Journal of Financial Risk Management
Product Type:Article
Product Code:IJFRM030925
DOI:10.71329/IUPJFRM/2025.22.3.36-49
Author Name:Neha Nag and Arpit Shailesh
Availability:YES
Subject/Domain:Finance
Download Format:PDF
Pages:36-49
This paper argues that digital technology is emerging as a key driver of financial inclusion for women and the gateway through which barriers to access to financial services can be bridged across gender lines. Digital banking, digital payments or wallets and blockchain solutions have significantly improved the options for women to access financial services. The potential of technology to add value has been empirically verified in developing countries. According to data from both the World Bank and the Reserve Bank of India, there has been a dramatic increase in women’s financial inclusion rates with the introduction of mobile money accounts, which subsequently has led to a 15% reduction in gender gap in financial services access. According to qualitative studies, women who utilize digital finance to a greater extent experience greater financial empowerment and decision making. The paper also notes that policy frameworks will have to be developed to match these advances. These may range from digital literacy programs for women to better mobile Internet availability to gender-sensitive financial products.
Financial inclusion is the extent to which useful, affordable financial products and services (such as savings, credit, insurance and payments) are provided in a manner that is sustainable in both commercial and social terms and that works to the benefit of the end-user and the small and medium enterprises (SMEs) that may serve low-income individuals.