Indepth Analysis of Fintech in India: Growth, Opportunities, and Challenges

Author(s)	Naman Garg
Country	India
Abstract	The fintech industry is rapidly attracting investments globally and reshaping the Indian Financial Sector. Digital Financial Services have become an essential backbone of businesses. The growth of fintech in India is attributed to government support, technological advancements, and inclusive technology catering to the underbanked/unbanked population. The industry has digitally transformed the Indian economy, but growth may be slow due to low profitability, high operational costs, and high customer acquisition costs. This research paper reviews existing literature, government reports, and industry research to provide an overview of the fintech industry in India, its growth, opportunities, and challenges. It suggests ways to overcome limitations and achieve its full potential.
Keywords	AI, Finance, Business, Applications, Indian Financial Sector
Field	Mathematics > Economy / Commerce
Published In	Volume 6, Issue 6, November-December 2024
Published On	2024-12-23
DOI	https://doi.org/10.36948/ijfmr.2024.v06i06.28876
Short DOI	https://doi.org/g8w23x

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