AbstractThis paper studies how financial innovation helps rural women in India to become more empowered. The main goal is to bring together evidence from many studies to show how microfinance and digital financial services support women’s inclusion in the economy. The review uses information from different types of research, such as literature reviews, surveys, case studies, and mixed methods. This approach provides both a broad picture and close-up details of women’s experiences. The findings show that microfinance and new digital tools have improved women’s access to savings, credit, and payment systems. Government programs like the Pradhan Mantri Jan Dhan Yojana and the India Stack have opened more bank accounts and promoted digital literacy. Mobile banking, digital payment platforms, and secure identification systems reduce distance and cost barriers. These changes give women more control over money matters and improve household welfare. However, challenges remain. Poor internet service, weak infrastructure, low digital skills, and fears of fraud make it hard for some women to use digital finance. Cultural traditions and gender roles also limit women’s independence. The paper recommends stronger digital training, better security systems, gender-sensitive policies, and community programs to close these gaps and ensure lasting empowerment.
Dey et al. (2025) studied this question.