Customers Perception Regarding Security, Privacy and Reliability W.S.R.T. Mobile Banking in India

Abstract

Covid-19 pandemic had changed the world so rapidly that no one could ever think of. And so, is the way of thinking of the masses had changed. Cashless economy had become the necessity of present world. Economies all over the world had started many policies and initiatives to convert themselves into cashless economies. But, as the value of cashless economy grows, so, is the number of frauds associated with the online monetary transactions grows. The aim of this study was to analyze the customers’ perception regarding security, privacy and reliability factors w.s.r.t. mobile banking in India. The researcher concluded that there was a significant difference in the rating given by the customers for the security, privacy and reliability features of different banks. The researcher suggested that RBI must issue certain guidelines for increasing the security, privacy and reliability features of the banks and make it compulsory for the banks to implement the same and also, fix the accountability that who will bear how much loss in case of online banking frauds occurs.