THE STUDY OF SOCIO-ECONOMIC EFFECTS OF ADOPTING DIGITAL BANKING SERVICES IN NAGPUR DISTRICT
DOI:
https://doi.org/10.29121/shodhkosh.v5.i7.2024.4420Keywords:
Digital Banking, Financial Inclusion, Economic Empowerment, Financial Literacy, Socio-Economic Impact, Online Transactions, Digital Payments, Banking BehaviorAbstract [English]
The rapid adoption of digital banking services has transformed financial transactions, influencing the socio-economic conditions of users. This study examines the impact of digital banking adoption on financial inclusion, convenience, economic empowerment, and overall financial behavior in Nagpur District. By analyzing customer experiences, transaction patterns, and financial accessibility, the research highlights the role of digital banking in enhancing financial literacy, reducing cash dependency, and improving economic stability. The findings suggest that digital banking positively contributes to socio-economic development, bridging the financial gap and fostering a more inclusive banking system.
References
Sharma, R., & Gupta, P. (2021). The impact of digital banking on financial inclusion: Enhancing banking accessibility for rural and urban populations. Journal of Financial Services Research, 45(3), 215-230.
Kumar, S., Patel, A., & Das, R. (2022). Digital banking and economic empowerment: Reducing cash dependency and promoting savings behavior. International Journal of Economics and Finance, 38(2), 120-135.
Mehta, V., & Verma, K. (2023). Challenges of digital banking adoption: Cybersecurity, digital literacy, and infrastructure barriers. Journal of Banking and Finance Technology, 27(1), 85-100.
Rao, M., & Patil, S. (2024). Socio-economic effects of digital banking: Financial literacy improvement and transaction cost reduction. Journal of Banking Studies, 12(4), 145-160
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Copyright (c) 2024 Yogesh Subhashrao Wankhede, Dr. Medha Kanetkar
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