Driving Financial Inclusion in Bharat's Amrit Kaal: The Role of Digital Payment Platforms and Embedded Finance

The 21st century is the century of technological advancement, in the context of the modern world people prefer everything under one roof. They don’t want to go to different places to get different products and services. There is a time when people prefer to stand in a queue to deposit money in a bank; those days are gone as technology advances to the next level. Digital wallets almost replaced cash transactions and India is in the phase of becoming a cashless economy. Embedded finance is financial services offered by non-financial companies such as bill payment, recharge, and money transfers etc., Here the companies which provide such services do not necessarily mean to be in the finance industry. Some of the best examples of embedded finance include PhonePe, Google Pay, Paytm, Amazon Pay etc.,

This study focused on the effectiveness and expansion of embedded finance in India using trend and comparative analysis and provided an analysis of how digitization changed every aspect of the Indian economy. The study completely depends on secondary data gathered from various websites, journals and research articles. The study concludes that the growth of embedded finance has added strength to the Indian economy by enhancing the availability of financial services at the fingertips.