Comparative Study on Digital Transactions among Public Sector Banks in India
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Abstract
The present study visualizes the digital transactions among public sector banks in India. government of India had announced Digital India Programme in 2015 which means everything digitalised. Banking is one of the primary sectors which deals with money transaction and application of digital mode of transaction helps to empower the people digitally. Digitalisation in banking operation is one of the key vision areas of digital India programme. The main objective of the study is to compare the digital transaction among public sector banks in India from 2018-2022 and it also emphasize digital transaction progress of public sector after merger of banks happened 2019 and 2020. Digital transaction includes NEFT, RTGS and Mobile transactions were considered for measuring digital transactions and data were gathered from secondary sources like online websites like RBI websites, NPCI. etc. Study shows drastic progress of mobile transaction in terms of volume and amount of transaction among public sector banks especially from 2020 and amount of RTGS transaction was more among other mode of transaction like NEFT and mobile and it is concluded that the overall progress of digital transaction through NEFT, RTGS and mobile from 2018-2022 was shown as significant growth level through Indian public sector banks.