Fintech Disruption And The Right To Life: Ensuring Equality In A Digital Era
- IJLLR Journal
- Jan 27
- 1 min read
Gobinda Naskar, Assistant Professor, Department of Political Science, Sidho-Kanho- Birsha University, West Bengal
ABSTRACT
The fintech revolution has been key to digital transformation. Innovations like the Unified Payments Interface (UPI), Aadhar-enabled payment systems, and digital lending platforms are changing financial inclusion. While these changes have increased access to financial services for millions, they also bring challenges related to equity, privacy, and the right to life as guaranteed under Article 21 of the Indian Constitution. This paper looks at the mixed effects of fintech disruption in India. It argues that while technology can empower, it can also marginalize if not implemented with inclusivity and ethical safeguards.
According to Indian judiciary, the right to life includes living with dignity, which means access to basic needs like food, shelter, health, and livelihood. Fintech can help support these rights through direct benefit transfers (DBTs), micro-credit, and low-cost remittances. However, digital exclusion can block vulnerable groups, especially in rural and tribal areas, from accessing these services. Problems like algorithmic bias, unclear credit scoring, aggressive digital lending, and data misuse can also threaten financial security and dignity.
This paper calls for a regulatory approach focused on rights. It should ensure fair digital access, strong data protection, and systems for addressing complaints. There is a need for inclusive design in fintech platforms and government policies that prioritize marginalized communities. In India’s push for a digital economy, protecting the constitutional right to life means making fintech a tool for empowerment rather than exclusion.
Keywords: Fintech Inclusion, Right to Life (Article 21), Digital Inequality, Financial Regulation in India, Ethical Technology etc.
