Title: The impact of customer's awareness level on the sustainability of payment banks in India

Authors: Nitin Bansal

Addresses: SBI School of Commerce and Banking, FMS WISDOM, Banasthali Vidyapith, Rajasthan, India

Abstract: Payment bank is a buzz word in Indian banking sector now. Reserve Bank of India has granted licenses to 11 entities to enhance the financial inclusion in India. The objective of the research paper is to analyse the awareness level regarding payment banks in India by low income group people, and the impact of payment banks on acceptability of banking services by low income group in spite of existing commercial banks. Exploratory factor analysis has been administered for the applicability of scale before the use of stepwise method (forward selection) of multiple linear regression. Primary data has been collected on a five-point Likert scale using stratified random sampling technique from the Delhi region with the help of questionnaires. Three hundred ninety-one useful schedules were considered for analysis of data using SPSS version 23. The results of the study show that there is a low awareness level regarding payment banks in India among low income group people, and also having positive impact of payment banks on acceptability of banking services by low income group in India.

Keywords: payment banks; low income group; financial inclusion; awareness level; India.

DOI: 10.1504/IJPSPM.2023.131341

International Journal of Public Sector Performance Management, 2023 Vol.11 No.4, pp.435 - 450

Received: 20 Feb 2020
Accepted: 07 Jun 2020
Published online: 07 Jun 2023 *

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