Journal Press India^®

Author Details ( * ) denotes Corresponding author

Proper Economic Development cannot be considered without financial inclusion in the economy like India. With the agenda of financial inclusion, the Government of India (RBI) is trying to provide universal access to banking services and improving the forms of credit delivery, especially for the poor and marginalized sections of the population residing in the rural areas. A number of strategies are being used to ensure financial inclusion day by day such as, appropriate relaxations in guidelines, provision of new products, educating the public about financial services, but particular attention is being given to the use of new Information and Communication Technology (ICT) as a means of financial Inclusion under the ICT solution model of RBI. Emergence of Reliance JIO has shown a revolutionary growth in the use of internet facility including rural and remote areas. According to the market research firm Cyber Media Research (CMR), India had 83 million, or 35%, of the 238 million 4G subscribers coming from rural areas. In this scenario, the present study is an attempt to examine the role of IC technology in the growth of financial inclusion, with particular analysis of impact of Reliance Jio information and communication technology (ICT). Growth of financial inclusion is measured by growth in electronic banking transactions (based on mobile phones and internet). The analysis is based on the secondary data which has been collected from the website of RBI on monthly basis for the period of 2015–2018. The data has been analyzed with the help of regression models. The finding suggests that introduction Reliance JIO Internet mobile facility has served to advance the goal of financial inclusion in India through encouraging the growth of electronic banking transactions.

Keywords

Financial inclusion, Information and Communication Technology, Reliance JIO Internet mobile.

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