A STUDY ON THE IMPACT OF TECHNOLOGY-ENABLED MICROFINANCE IN IMPROVING FINANCIAL INCLUSION FOR SMALL-SCALE AGRICULTURE FARMERS WITH SPECIAL REFERENCE TO DARBHANGA, BIHAR

This study examines how technology-enabled microfinance systems have improved financial inclusion for small-scale agriculture farmers in Darbhanga, Bihar. In many rural parts of India, traditional banking is either inaccessible or inefficient for small farmers. By integrating technology with microfinance services—such as mobile banking, digital loan platforms, and online Self-Help Groups (SHGs)—many barriers to credit, savings, and financial education are being reduced. Using a mixed-methods research approach that includes surveys and interviews with 400 farmers from various blocks of Darbhanga, the paper finds that digital microfinance significantly improves access to timely credit, promotes savings, and enhances agricultural productivity. However, challenges such as digital illiteracy, poor network connectivity, and lack of trust in digital systems still limit its full potential. This study concludes with recommendations for improving outreach, education, and infrastructure to strengthen the role of digital microfinance in rural financial empowerment. Keywords: Microfinance, Financial Inclusion, Digital Finance, Small-Scale Farmers, Technology, Agriculture