Assessing Financial Inclusion through Student Focused Digital Lending Platforms: A Study of Loan Applications
Author : Arya Adesha and Chandrakala DP
Abstract :
This study investigates the influence of student centric digital lending platforms on financial inclusion and perceived financial empowerment in India. This study examines the impact of trust, financial and digital literacy, application functionalities, credit availability, and loan adaptability on students' borrowing behaviour and empowerment. A quantitative study design was employed, utilising data gathered from urban students via a structured survey. Structural Equation Modelling was utilised to examine direct, indirect, and mediating interactions, with financial inclusion serving as a mediating variable between digital lending characteristics and empowerment. The results indicate that trust in digital platforms and financial literacy are critical factors influencing financial inclusion, but application features, credit accessibility, and loan flexibility exert lesser influence. Financial inclusion augments felt empowerment, substantiating its mediating function between trust and awareness. Future research may concentrate on rural people and employ longitudinal or qualitative methodologies. This study amalgamates technological and behavioural viewpoints into a unified framework, offering an extensive comprehension of the role digital lending platforms play in fostering financial inclusion and empowering students.
Keywords :
Digital Lending Platforms, Financial Inclusion, Finance Awareness, Financial Empowerment.
