Financial inclusion is increasingly recognized as a critical instrument for promoting inclusive growth and sustainable development. This paper investigates the evolution and current landscape of financial inclusion in India, exploring how governmental policies, technological advancements, and microfinance institutions have contributed to extending financial services to the unbanked. Through the lens of the United Nations Sustainable Development Goals (SDGs), the paper assesses the interrelation between inclusive financial systems and socio-economic development. It concludes with recommendations for enhancing financial access and achieving holistic sustainability outcomes by 2030. Despite significant strides in financial inclusion through initiatives like Pradhan Mantri Jan Dhan Yojana (PMJDY), mobile banking, and FinTech innovations, rural India continues to face persistent structural and socio-cultural barriers. This study investigates how factors such as low financial literacy, digital illiteracy, gender disparity, infrastructural limitations, and social norms hinder the widespread adoption of digital financial services in rural regions, thereby limiting the transformative potential of financial inclusion in achieving Sustainable Development Goals.
Ashutosh Dwivedi (Wed,) studied this question.
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