  The study examines the relationship between mobile financial services and individual financial behavior in India wherein a sizeable population is yet to be financially included. Addressing the endogeneity associated with the use of mobile financial services using an instrumental variable method, the study finds that the use of mobile financial services increases the likelihood of investment, having insurance and borrowing from formal financial institutions. Further, the analysis highlights that access to mobile financial services have the potential to bridge the gender divide in financial inclusion. Fastening the pace of access to mobile financial services may partially alter pandemic induced poverty. 
Effect of mobile financial services on financial behavior in developing   economies-Evidence from India