IMIB Journal of Innovation and Management
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Arjyalopa Mishra1, Aadhruti Vangaveti1 and Sidhanth M. K. Majoo1

First Published 8 Dec 2023.
Article Information Volume 2, Issue 1 January 2024
Corresponding Author:

Sidhanth M. K. Majoo, Department of Management, National Law University Odisha, Cuttack, Odisha, India.

National Law University Odisha, Cuttack, Odisha, India

Creative Commons Non Commercial CC BY-NC: This article is distributed under the terms of the Creative Commons Attribution-NonCommercial 4.0 License ( which permits non-Commercial use, reproduction and distribution of the work without further permission provided the original work is attributed. 


The concept of financial ecology encompasses the intricate interplay of financial systems, institutions, and technologies within the economic ecosystem. It emphasizes the symbiotic relationships and dependencies that shape the modern financial world. Development of Fintech has the potential to significantly enhance and reshape the dynamics of the financial ecology, introducing new players and altering established relationships within the ecosystem. In today’s digital realm, the financial landscape has gained significant steam in its adoption of technology tools to dispense its services. The ‘internet economy’ is relied upon to produce new market development opportunities and occupations and become the greatest business opportunity for organisations in the future. India has come up significantly in the global discussion on financial technologies over the last two decades. Through a systematic review of the literature on this area, this article identifies that the regulatory framework requires provisions to support greater fintech inclusion. Moreover, several issues still lie deficiently addressed, such as user privacy and cybersecurity. This article attempts to review the opportunities, scope and risks for the implementation of financial innovation in India.


Digitisation, fintech laws, financial inclusion, financial technology


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