THE ROLE OF FINTECH IN TRANSFORMING THE FINANCIAL SERVICES LANDSCAPE IN RURAL INDIA

This study investigates how FinTech is transforming financial services in rural India and the barriers that impede such transformation. Suspicion, low digital literacy, resistance to change is major trust issues for many rural consumers, making it difficult for them to adopt digital financial services. By revealing these inhibitors, the research questions the significance of trust, the implications of digital literacy, and the contribution of government and private sector variables in facilitating the uptake of Fintech. Its aim is to provide insights that lead to more inclusive, user-centric financial solutions designed to meet the needs of rural communities. In so doing, this study aims to analyse the transformative potential of FinTech in rural India through an exploration of the behavioural, technological, and institutional determinants of its adoption. Although digital finance is growing rapidly, in rural areas there are still major barriers, such as lack of trust, low levels of digital literacy, and fear of change. We plan to identify and examine challenges of the SMEs, and the role of trust in the consumer-related decisions on FinTech adoption. Additionally, it seeks to assess how digital literacy affects the usage of financial technology and evaluate the effectiveness of government and private sector initiatives in promoting financial inclusion. By providing insights into the key barriers and potential solutions, this research will offer valuable recommendations for policymakers, financial institutions, and technology companies to develop more inclusive and accessible digital financial services tailored to the needs of rural populations. Keywords: Fintech Adoption, Rural Banking, Rural India, Digital Payments, Trust In Technology, Digital Literacy, Government Initiatives