impact of digital banking in promoting financial inclusion

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Digital financial inclusion aims to empower unserved and underserved populations, particularly low-income groups, by providing access to banking services through digital channels. Initiatives like the Pradhan Mantri Jan Dhan Yojna have significantly increased the number of bank accounts among Indian citizens, facilitating direct benefit transfers. Despite advancements in digital banking technologies such as ATMs, mobile banking, and UPI, challenges remain, including risks associated with digital transactions that hinder full financial inclusion.