The Indian banking sector through years has transformed from Traditional Banking to New-Age banking. Technological revolution in the form of innovation and exnovation - along with a prudential banking norms and reforms - have changed the whole gamut of Indian banking sector particularly since liberalization; Heavy dependence on information technology and intensified competition influenced all the aspects of banking activity. With plethora of products being offered by banks, product knowledge as well as skill sets required to use technology enabled products and services need to be improved amongst the banking staff and the customers. But there exists a gap between the expectation and the reach of the technology enabled products and services.
Further, the demographic transition in India is expected to throw up new challenges for the Gen-Next banking. Banks have to understand the changing needs of customers, their aspirations and expectations to create values for their sustenance. Thus, in the light of the present banking scenario, the paper makes an attempt to explore the awareness and acceptance level of retail customers, about the technology enabled products and services offered by the private sector banks to its retail customers. It also highlights the nexus between the preferred mode of banking and usage rate of technology enabled services. The other key variables like ease of use, convenience, accessibility, risk, technical failure, fraud, and internet connectivity are analysed to understand the benefits conferred as well as the hindrances in adoption.