LEVERAGING INFORMATION AND COMMUNICATION TECHNOLOGY (ICT) FOR FINANCIAL INCLUSION THROUGH DISSEMINATION OF FINANCIAL EDUCATION
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Abstract
A strong financial system is vital for the economic progress of a country, and to ensure a strong financial system, a country needs to make sure of two things, one, universal access to a wide range of financial services at a reasonable cost, and two, a better understanding of the financial aspects to avail the financial services. In the Indian context, both of the factors are very vulnerable, 46 percent of the Indian population is still financially excluded as of 2021 as per the report of RBI and the population has a good understanding of financial aspects is just 24 percent.
To strengthen the financial system by maximum financial inclusion through the acceleration of financial education cannot be imagined without leveraging Information and Communication Technology (ICT).
This paper is an effort made toward unfolding the role of Information and Communication Technology (ICT) in strengthening the Indian Financial System through Financial Inclusion and accelerating financial education. The main conclusion of the study is that without Information and Communication Technology (ICT) the key target areas such as financial education, and financial inclusion are not possible.
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