Digital financial inclusion (DFI) can improve the economic growth: a study of India

Purpose Can digital financial inclusion (DFI) as an emerging and innovative financial service encourage economic development? Design/methodology/approach Based on a Bayesian macroeconomic investigation framework, this research study presents the level of internet growth as a threshold variable and examines the influence of DFI on economic development based on state panel data from 2008 to 2021 in India. Findings The outcome of DFI on economic development through various mediation models. The results illustrate that DFI growth substantially contributes to economic development. Originality/value Encouraging small and medium-sized enterprise entrepreneurship and motivating populations’ utilization are two significant networks through which DFI progress affects economic growth.