Review of Professional Management- A Journal of New Delhi Institute of Management

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Digital Payments in Indian Banking Sector-A Study


Affiliations
1 Associate Professor, Dept. of Business Management, Vaageswari College of Engineering, Karimnagar, Telangana, India
2 Professor (Emeritus), University College of Commerce and Business Management, Kakatiya University, Warangal, Telangana, India
 

The Indian banking sector has undergone several changes and recorded a remarkable growth since liberalization. With the development of technological innovations in the banking sector, new regulations along with increasing needs of customers, the banking sector is facing challenges. Indian banking sector has been introducing new technology enabled operations to satisfy its customers. The present paper is aimed to study the technological innovations introduced in the banking sector for digital payments which made easy for payments and settlements of banks as well as customers. Demonetization of rupee was expected to increase in digitalization of payments and settlement systems in India. This study uses monthly data to study degree of digitalization of banking system in both pre and post demonetization periods . The paper considers four forms of digital transactions over the period 44 months (22 months for pre-demonetization (Jan. 2015 to Oct. 2016) and 22 months for post-demonetization (Nov. 2016 to Aug. 2018) from the RBI website. Kolmogorov-Smirnov (K-S) and Shapiro-Wilk normality tests and equality of variance in selected modes of payment systems between the two periods have been conducted. Then t tests have been conducted for each form of digital transaction to test hypotheses of equality of variance.

Keywords

Indian Banking Sector, Technological innovations, Challenges in Banking Sector, Digital Payments, Product and Services.
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  • Aastha Gupta, M. G. (2013). Electroic Mode of Payment – A Study of Indian Banking System. International Journal of Enterprise Computing and Business Systems, 2 (2), 1-13.

  • Abid, S. (2016). Electronic Payment System: An Evolution in Indian Banking System. IOSR Journal of Economics and Finance (IOSR-JEF) , 7 (2), 25-30.

  • Anbalagan. (2017). New Technological Changes in Indian Banking Sector. International Journal of Scientific Research and Management (IJSRM) , 5 (9), 7015-7021.

  • Badruddin, A. (2015). Financial Market Infrastructures: A Study on Payment and Settlement System in Indian Banking Sector. International Journal of Engineering Technology, Management and Applied Sciences, 3 (2), 180-191.

  • Senthil and Vasan. (2018). A Study of Payment and Settlement in Indian Banking Sector. Research maGma (An International Multidisciplinary Journal) , 1 (11), 1-8.

  • Shet, A. R. (2016). Technological Innovations in Indian Banking Sector. International Journal of Scientific Engineering and Research (IJSER) , 4 (5), 11-14.


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  • Digital Payments in Indian Banking Sector-A Study

Abstract Views: 319  |  PDF Views: 209

Authors

E. Hari Prasad
Associate Professor, Dept. of Business Management, Vaageswari College of Engineering, Karimnagar, Telangana, India
G. V. Bhavani Prasad
Professor (Emeritus), University College of Commerce and Business Management, Kakatiya University, Warangal, Telangana, India

Abstract


The Indian banking sector has undergone several changes and recorded a remarkable growth since liberalization. With the development of technological innovations in the banking sector, new regulations along with increasing needs of customers, the banking sector is facing challenges. Indian banking sector has been introducing new technology enabled operations to satisfy its customers. The present paper is aimed to study the technological innovations introduced in the banking sector for digital payments which made easy for payments and settlements of banks as well as customers. Demonetization of rupee was expected to increase in digitalization of payments and settlement systems in India. This study uses monthly data to study degree of digitalization of banking system in both pre and post demonetization periods . The paper considers four forms of digital transactions over the period 44 months (22 months for pre-demonetization (Jan. 2015 to Oct. 2016) and 22 months for post-demonetization (Nov. 2016 to Aug. 2018) from the RBI website. Kolmogorov-Smirnov (K-S) and Shapiro-Wilk normality tests and equality of variance in selected modes of payment systems between the two periods have been conducted. Then t tests have been conducted for each form of digital transaction to test hypotheses of equality of variance.

Keywords


Indian Banking Sector, Technological innovations, Challenges in Banking Sector, Digital Payments, Product and Services.

References





DOI: https://doi.org/10.20968/rpm%2F2019%2Fv17%2Fi1%2F145653