Exploring Enablers and Barriers of M-Banking Adoption for Financial Inclusion in Rural India

Authors

DOI:

https://doi.org/10.17010/ijf/2026/v20i5/175463

Keywords:

mobile banking adoption, technology acceptance model, UTAUT, rural India, structural equation modeling.
JEL Classification Codes :C38, G20, O18, O33
Publication Chronology: Paper Submission Date : September 15, 2025 ; Paper sent back for Revision : March 25, 2026 ; Paper Acceptance Date : April 15, 2026 ; Paper Published Online : May 15, 2026

Abstract

Purpose : The objective of this research was to explore critical determinants of mobile banking (M-banking) adoption for achieving financial inclusion in rural India.

Design/Methodology/Approach : An integrated research model was assessed through a two-step CB-SEM to explore the key determinants of M-banking adoption. A total of 404 data samples were collected from Andhra Pradesh (130), Karnataka (140), and Telangana (134).

Findings : The results established a positive impact of usefulness, ease of use, self-efficacy, and social influence on M-banking adoption, and a negative impact of cost and risk on M-banking adoption. Self-efficacy had a positive impact on usefulness and ease of use; whereas, social influence had a negative impact on risk.

Practical Implications : The study contributed to technology and behavioral research. Furthermore, it provides a better understanding of key factors of M-banking adoption among rural populations.

Originality : This study used a unique research model that integrated the critical variables of TAM, UTAUT, DOI, and TPB. The research model explained 79.4% of the variation in m-banking adoption.

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Published

2026-05-15

How to Cite

Raju, G., & Gupta, S. (2026). Exploring Enablers and Barriers of M-Banking Adoption for Financial Inclusion in Rural India. Indian Journal of Finance, 20(5), 56–76. https://doi.org/10.17010/ijf/2026/v20i5/175463

Issue

Volume 20, Issue 5, May 2026

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