The Problems and Prospects of FinTech in the Achievement of SDGs: An Indian Scenario

DOI

10.2991/978-94-6239-772-9_29How to use a DOI?

Keywords

Sustainable Development Growth; FinTech; Financial Inclusion; ATM penetration

Abstract

In the year 2025 almost, a decade is over for the implementation of the Sustainable Development Goals (SDGs), those were stated by the United Nations Member States in the year 2015. The SDGs is considered as a framework for highlighting critical worldwide challenges and focusing the inter-dependence between economic, social, and environmental issues of development. India is dominating in defining and implementing the SDG agenda in order to achieve those goals by year 2030. The Sustainable Development Goals – National Indicator Framework Progress Report, 2025, is considered as a crucial tool for evaluating national progress based on all the 17 Sustainable Development Goals. This report not only gives an overview of current status of these national indicators but also point out the data gaps with comparison to the global status. Out of these goals, the Sustainable Development Growth Goal no. 8 (Decent Work and Economic Growth) indicates the promotion of inclusive and sustainable economic growth. As per the United Nations global indicator for this SDG 8.10.1 is mainly focusing on number of commercial bank branches and ATM penetration. When it comes to the India’s current status of SDG 8.10.1, National Indicator Framework Progress Report 2025 shows the partial achievement as compared to Global Indicator Framework for 8.10.1. It indicates that the traditional banking system is not sufficiently providing access to financial services in India.[1] But at the same time FinTechs in India have initiated in developing the Digital Public Infrastructure to acquire the new customers and providing them financial services with a low cost as compared to traditional banking system. The recent report by EY and Digital Lenders Association of India (DLAI) entitled ‘The role of FinTech in building Viksit Bharat’ has highlighted that the India’s FinTech market is expected to grow by 30% to reach 180-200 billion US$ by the year 2029 and FinTechs can play crucial role in achieving SDG by providing easy access to financial services and empowering the underserved segments of society. Ongoing collaborations between the Indian government, other stakeholders and FinTechs can help in creating a more inclusive and sustainable financial services and thus contributing to India’s transformation into a developed nation through significant Sustainable Development Growth.[2].

Copyright

© 2026 The Author(s)

Open Access

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TY  - CONF
AU  - S. S. Jadhav
AU  - A. A. Sattikar
AU  - Santosh Hasure
PY  - 2026
DA  - 2026/09/07
TI  - The Problems and Prospects of FinTech in the Achievement of SDGs: An Indian Scenario
BT  - Proceedings of the 2nd International Conference on Innovations and Challenges in Financial Technology (ICICFT 2025)
PB  - Atlantis Press
SP  - 390
EP  - 402
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6239-772-9_29
DO  - 10.2991/978-94-6239-772-9_29
ID  - Jadhav2026
ER  -