Fin-Tech: Transformation of The Indian Banking Sector

Abstract

Purpose

The Banking industry is considered to be the foundation of the Indian economy. The main purpose of this study is to look into the Indian banking sector's performance since the inception of fin-tech services banking industries plays a crucial role as the most prominent service sectors and a broad reflection of the Indian economy. Since the emergence of Fin-Tech services in India, the banking sector has seen a major shift in its performance.

Design/Methodology/Approach

The current paper uses a qualitative research design with secondary data sources. The authors collected information from secondary data Published from banking sectors in India. Various Fin-tech services used by banking sectors and observed the reforms in Banking Industries.

Findings

Our study provides important implications for regulators to develop Fin-Tech and maintain financial stability in emerging banking sectors. The authors find that Fintech services, specifically E- banking plays a significant role in reducing uncertainty surrounding business operations. Fin-Tech also offers growth possibilities and creates social value by providing transactional security, convenience and reducing physical cash robberies.

Implications

Fin-tech Services have significant positive impact on the financial stability of banks in India. It demonstrates that Fin-Tech services exhibit a more positive influence on the financial stability of banks in India.