IMPACT OF FINTECH INNOVATION TO TRANSFORM REGIONAL RURAL BANKS (RRBS) IN INDIA-A STUDY WITH SPECIAL REFERENCE TO KARNATAKA.
DOI:
https://doi.org/10.29121/shodhkosh.v5.i6.2024.5424Keywords:
Rural Sector, Banking Services, Fintech and Modern Technology, Regional Rural BanksAbstract [English]
Indian banking is incomplete without mentioning the exponential growth in digital banking and technological advancements. India is leveraging fintech innovations to transform Rural Rural Banks (RRBs). As the Government pushes ahead with the "One State, One RRB" policy to consolidate RRBs, fintech companies have a golden opportunity to play a pivotal role in rapidly moving RRBs into the digital age. With widespread penetration in rural areas, RRBs are crucial in driving financial inclusion across the country. However, given the changing dynamics in digital payments and financial services, it is critical for RRBs to modernize and integrate with modern technology based payment ecosystems such as Aadhaar Enabled Payments System (AePS), Unified Payments Interface (UPI), and Unified Lending Interface (ULI). The research paper highlights and examine that the how fintech innovation to transform RRBs in India and examines how the use of FinTech solutions has resulted in financial inclusion and banking services in rural areas. This study also analyses the impact of fintech in the rural banking operations and performance. This study is based both primary data and secondary data. This is in descriptive in Nature. The data will be analyzed through some statistical tools such as percentage,Mean, Kendalls ‘w’test and Chi square test.
References
Raj, B., & Upadhyay, V. (2020). Role of FinTech in accelerating financial inclusion in India. In 3rd International Conference on Economics and Finance organised by the Nepal Rastra Bank at Kathmandu, Nepal during February (pp. 28-29). [3] DOI: https://doi.org/10.2139/ssrn.3591018
Pant, S. K. (2020). Fintech: Emerging Trends. Telecom Business Review, 13(1). [10]
Virani, S., Rautela, S., & Sharma, S. (2021). Financial inclusion via Fintech: A conceptual framework for digitalizing the banking landscape of rural India. In Artificial Intelligence and Speech Technology (pp. 497-505). CRC Press. [11] DOI: https://doi.org/10.1201/9781003150664-54
Kukreja, G., Bahl, D., & Gupta, R. (2021). The impact of Fintech on financial services in India: Past, present, and future trends. In Innovative strategies for implementing Fintech in banking (pp. 191-200). IGI Global. [5] DOI: https://doi.org/10.4018/978-1-7998-3257-7.ch012
Asif, M., Khan, M. N., Tiwari, S., Wani, S. K., & Alam, F. (2023). The impact of fintech and digital financial services on financial inclusion in India. Journal of Risk and Financial Management, 16(2), 122. [9] DOI: https://doi.org/10.3390/jrfm16020122
Hegde, Ms. Vyshnavi A, Jain, Harsh , Dudhoria, Rishin , Rathod (2024) “A Study on the Fintech Penetration in Rural Karnataka” DOI Link: https://doi.org/10.22214/ijraset.2024.60020 DOI: https://doi.org/10.22214/ijraset.2024.60020
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Dr. Basavaraj

This work is licensed under a Creative Commons Attribution 4.0 International License.
With the licence CC-BY, authors retain the copyright, allowing anyone to download, reuse, re-print, modify, distribute, and/or copy their contribution. The work must be properly attributed to its author.
It is not necessary to ask for further permission from the author or journal board.
This journal provides immediate open access to its content on the principle that making research freely available to the public supports a greater global exchange of knowledge.