DIGITAL BANKING AND THE ENDOWED YOUTH

Abstract

In those days, waiting for long hours at the bank was inevitable, especially if we were to visit bank in the first week of a month, when there would be a scramble for cash among customers. Things have changed drastically now. All those have become a thing of the past, with the advent of Digital technology .Digital technology has revolutionized banking in an unprecedented manner. In order to get money, we had to go to the bank branch, hand over a cheque to the bank employee, collect a token in return and wait, until the cashier call our number. Digital banking has made a way to perform. Now all we have to do to get cash is to get to the nearest ATM, insert our card in the machine and wait for less than a minute. Digital banking also allows us to enjoy paperless banking and enable us to keep record of a banking history in digital format. Digital banking has completely changed the way we bank in todays time. Various studies have showed that only 51% of retail banking customers have a reliable online banking experience. This researcher paper aim to analyze in-depth the various factors that have contributed to the growing popularity among digital banking among the youth of the country. The paper also aim at better understanding of the different various in which digital banking is made use of by the youngsters of the country. Purposive sampling method was used to conduct research. Digital banking is highly useful for them in day to day life. While employed people reportedly relied more on Google pay for massive fund transaction.  The unemployed one reported using Google pay for the purpose of transferring small funds to friends and wise versa. The conclusion that all the youth who have participated in the survey was using digital banking. The way of their usage is entire different from those salaried persons. Mainly the youth are using these apps for small transferring of fund or money with their friends.