Redefining Banking through Decentralised Finance (DeFi): A Pathway towards Viksit Bharat 2047
DOI:
https://doi.org/10.58574/jaa.2026.v5.i1.04Keywords:
Decentralised Finance, Digital India, Financial inclusion, Blockchain TechnologiesAbstract
The financial landscape of India is evolving in consonance with the theme of Digital India. The banking sector is also frequently integrating new technologies in order to ensure ease in banking and accessibility for all. As India aims to build a stronger financial ecosystem in consonance with Viksit Bharat 2047, emerging technologies like Decentralised Finance (DeFi) are redefining the banking sector. In this backdrop, this study examines the associated risks, potential prospects, and challenges of adopting Decentralised Finance (DeFi) in the Indian Scenario. Besides, this paper also seeks to determine how banks can adopt DeFi and Blockchain Technologies, thereby boosting innovation in line with the concept of Viksit Bharat 2047. The discussions indicate that India is well-positioned to adopt DeFi protocols to ensure easy access, data security, and enhanced financial inclusion.
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Copyright (c) 2026 Dr. Samrat Banerjee, Dr. Sovik Mukherjee
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