Financial Technology and Its Impact on Poverty in India
Rahul Singh Gautam1, Jagjeevan Kanoujiya2, Venkata Mrudula Bhimavarapu3, Shailesh Rastogi4
1Rahul Singh Gautam, Ph.D. Scholar, Symbiosis Institute of Business Management, Pune; Symbiosis International (Deemed University), Pune (Maharashtra), India.
2Jagjeevan Kanoujiya, Ph.D. Scholar, Symbiosis Institute of Business Management, Pune; Symbiosis International (Deemed University), Pune (Maharashtra), India.
3Venkata Mrudula Bhimavarapu*, Ph.D. Scholar, Symbiosis Institute of Business Management, Pune; Symbiosis International (Deemed University), Pune (Maharashtra), India.
4Dr. Shailesh Rastogi, Professor, Symbiosis Institute of Business Management, Pune; Symbiosis International (Deemed University), Pune (Maharashtra), India.
Manuscript received on September 07, 2021. | Revised Manuscript received on September 30, 2021. | Manuscript published on September 30, 2021. | PP: 1-10 | Volume-6 Issue-3, November 2021. | Retrieval Number: 100.1/ijmh.B1396116321 | DOI: 10.35940/ijmh.B1396.116321
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© The Authors. Published By: Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: The paper aims to examine the effects of financial technology (Kisan Credit Card and ATM) on India’s Poverty and empirically analyze the influence of financial technology on poverty scores. We consider data from twenty-two Indian states for three fiscal years, i.e., from 2018 to 2020. The current study uses panel data analysis to test the hypothesis. Results suggest a negative association between financial technology (Kisan credit card and ATM) and its influence on the poverty score in India. The current study suggests that the government should pay more attention to expanding financial technology, including increasing economic growth and financial stability and eliminating poverty by investing in infrastructure that would enhance banking services.
Keywords: Financial Technology, Financial Inclusion, Digitalization, Poverty, ATM, KCC, India.