Optimizing Digital Financial Data: Enhancing Business Decision Making in the Indian Scenario

Abstract

The study aims to explore challenges hindering inclusive access to digital financial inclusion (DFI) in the Indian financial sector, focusing on the role of automation in financial decision-making support systems. It also seeks to assess the impact of digital technologies on corporate financial performance and Environmental, Social, and Governance (ESG) considerations. Descriptive research methodology was conducted to analyse challenges affecting inclusive access to DFI, with a sample size of 388 participants from major financial institutions in Mysore city. Primary data was collected through structured questionnaires, and secondary data was obtained from relevant literature and reports. Statistical methods including ANOVA were employed for data analysis. The analysis revealed non-significant differences in digital literacy programs and technological infrastructure among banks, highlighting a uniform approach and the need for standardized development. Significant variation was observed in gender-based challenges, emphasizing the necessity for tailored initiatives. Non-significant differences in automation adoption and system usage imply a consistent approach across banks, though further investigation is warranted. Borderline significance in stakeholder perception suggests diverse opinions, requiring proactive management during digital transformation. The study underscores the importance evaluations and collective efforts to address challenges hindering inclusive access to digital financial services in India. While certain aspects exhibit consistency, targeted interventions are needed to foster inclusivity and maximize the potential of digital technologies. Future research should explore stakeholder perceptions and influencing factors behind automation adoption trends to enhance understanding of digital financial inclusion dynamics in India.