Year : 2019, Volume : 9, Issue : 3
First page : ( 75) Last page : ( 86)
Print ISSN : 0000-0000. Online ISSN : 2249-6270.
Article DOI : 10.5958/2249-6270.2019.00021.7

Educating rural customers about digital banking services - A study in Udupi District

Shetty Udaya K Prof.¹, Professor in Commerce

¹Government First Grade College, Thenkanidiyur, Udupi District-576106.

Abstract

The digital economy is the new productivity platform that some experts regard as the third industrial revolution. This is also known as ‘The Internet Economy’ or Internet of Everything (IoE) and expected to generate new market growth opportunities, jobs and become the biggest business opportunity of mankind in the next 30 to 40 years. The initiative is expected to not only boost economic growth but also to improve the lives of the citizens. The government plans to make India a truly digital nation by offering a plethora of e-governance services across sectors by using cloud, mobility, IoT and analytics. In fact, banking sector is the most influenced sector by the digitl tranformation in India. Digital banking is the digitization (or moving online) of all the traditional banking activities and programs that historically were only available to customers when physically inside of a bank branch. This includes activities like: Money Deposits, Withdrawals, and Transfers. Checking/Saving Account Management. Digitization is the conversion of data into a digital format with the adoption of technology. By embracing digitalization, banks can provide enhanced customer services, customer convenience and saving of customer's valuable time.The digital banking helps the businesses to easily transfer payments throug bank accounts. Time saving Though wide variety of digital services are being provided by banks, large portion of customers do not possess knowledge as to their use and benefits. The problem of inadequate knowledge as to digital dervices of bank is severe as far as rural population is concerned. Banks tried to educate people about net banking and mobile banking security, the benefits of customer education extend beyond simply protecting customers and the institution. Customer education on digital services supports the adoption digital modes of payments. This paper makes an attempt to understand the need for educating rural population about digital banking services and also tries to identify strategies to make new digital services of bank attractive, effective and acceptable to rural population.

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Keywords

Digital banking, Financial inclusion, Customer education, Digital security.

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