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Gender disparity in the digitalization of financial services: challenges and promises for women's financial inclusion in India

Abstract Digital financial services present unprecedented opportunities for the financial inclusion of vulnerable sections of society by overcoming the barriers of cost, distance, transparency, and by providing financial services tailored to their needs. Despite rapid strides in the digital financial inclusion in India, women face barriers to access and usage of digital financial services. The study uses secondary data to examine the regional profile of the gender gap in digital financial inclusion in India. The analysis shows that the economic development of the state does not determine the gender disparity in digital financial inclusion. The study also identifies key barriers to women’s access to digital financial services. Based on a primary survey of women in rural and urban areas the study shows that digitalization can help enhance women’s social and financial autonomy. Hence, these findings suggest that a gender sensitive approach to financial inclusion is imperative for the success of policy initiatives.