Impact of Digital Banking in Promoting Financial Inclusion

Abstract

Research revealed that out of 400 respondents 18 respondents are not using newlinedigital banking in this modern era. 95.5% respondents found digitally newlinefinancially included. newlineand#61623; The p-value of chi square test for demographic variables such as occupation, newlineincome, education, family members and geographic location is above 0.05 newlineand it represents customers of both the areas are well aware about digital newlinebanking so above demographic and geographic variables play a significant newlinerole in availing digital financial services. newlineand#61623; ATMs, E-wallets, IMPS, UPI, Internet connectivity, mobile banking and newlinesatisfaction through digital banking have p-values greater than 0.05 that newlinereveals the frequency of transactions of both urban and rural customers are newlineincreased because of above digital banking channels. newlineand#61623; The p-values of Wald statistic reported that three predicted variables newlineGovernment policies for digital banking, POS machines in the city or village newlineand mobile banking has proved most impactful variables, having p-values newlineless than 0.05. newlineand#61623; The p-values of Mann-Whitney U test for all the digital banking channels for newlineusage of financial services is less than 0.05 that represents all the channels newlinehave positive impact on financial inclusion. newlineand#61623; Results of independent sample T-test revealed that there is no significant newlinedifference between urban and rural customer s regarding digital financial newlineinclusion and their perception. newlineand#61623; The p-value for independent sample T-test revealed that there is a significant newlinedifference between urban and rural customer s regarding dissatisfaction and newlineadoption of digital financial inclusion. newlineand#61623; The study will help the managers of banking sector to focus upon the issues newlineand challenges faced by customers about digital financial inclusion. newline