Government Initiatives and Their Impact on Fintech Adoption: Evidence from Digital India Campaign
DOI:
https://doi.org/10.26821/ijsrc.14.3.2026.140302Keywords:
FinTech Adoption, Digital India, Government Initiatives, Consumer Awareness, Financial Inclusion, Digital PaymentsAbstract
This study examines the impact of government initiatives under the Digital India campaign on FinTech adoption in India, with a particular focus on the mediating role of consumer awareness. Drawing upon the Technology Acceptance Model (TAM) and financial inclusion frameworks, the research adopts a quantitative and explanatory design using primary data collected through a structured questionnaire. A total of 200 responses were analyzed using statistical techniques including reliability analysis, correlation, regression, and structural equation modeling (SEM). The findings reveal that government initiatives have a significant positive impact on both consumer awareness (β = 0.58, p < 0.001) and FinTech adoption (β = 0.41, p < 0.001). Furthermore, consumer awareness significantly influences FinTech adoption (β = 0.52, p < 0.001), confirming its role as a key determinant of digital financial behavior. The results also indicate a partial mediating effect of awareness, as the direct impact of government initiatives on adoption decreases but remains significant (β = 0.25, p < 0.01) when awareness is included in the model. The study highlights the importance of policy-driven awareness campaigns, digital infrastructure development, and financial literacy programs in promoting FinTech adoption. It also underscores the need for collaborative efforts between government and FinTech firms to enhance user engagement and trust. The findings contribute to the existing literature by providing empirical evidence on the role of government initiatives in shaping FinTech adoption in emerging economies. The study offers valuable implications for policymakers, financial institutions, and digital service providers aiming to foster inclusive digital financial ecosystems in India.
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Copyright (c) 2026 Prastuti Gupta, Dr. Sanjay Sharma
This work is licensed under a Creative Commons Attribution 4.0 International License.
