Poor Internet Connectivity: A Barrier to Digital Financial Inclusion in Lakshadweep

Thursday, 26 September 2024, 20:30

Poor internet connectivity significantly restricts digital financial inclusion in Lakshadweep. The RBI-funded study uncovers how inadequate internet access affects residents' ability to participate fully in the digital economy. Key findings highlight concerns about accessibility and reliability, pointing to the urgent need for improved infrastructure. Addressing these challenges is essential for fostering financial inclusion in the region.
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Poor Internet Connectivity: A Barrier to Digital Financial Inclusion in Lakshadweep

Poor Internet Connectivity: An Impediment

The RBI-funded study illustrates how poor internet connectivity
serves as a major barrier to digital financial inclusion in Lakshadweep islands. Many respondents expressed serious concerns regarding their ability to engage with digital financial services effectively. This limitation hampers the potential for economic growth and financial empowerment in the region.

Urgent Attention Required

For residents of Lakshadweep, the lack of reliable internet access prevents digital inclusion and ultimately impacts their financial literacy and capabilities. The reliance on traditional banking methods can be attributed to these issues. There is a growing consensus that governmental and corporate interventions are vital to enhance internet connectivity and advance the RBI's vision for financial inclusion.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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