Acquaintance and Acceptance of Payment Banks among College Students During the Pandemic Period

Abstract

After many decades, the term 'financial inclusion' was commemorated in the Indian banking sector. RBI fascinated giant strides to reach small villages and low income group of people progressing Digital India. It is an analogous proposal within which different non-banking monetary organizations are conceded the authority to ensure basic bank services to each Indian National. Pradhan Mantri Jan Dhan Yojana congregated the amount of unbanked people within the country, although there are millions who are still inaccessible. Pandemic period hooked up the need for digital payments and hence there is possibility of payment banks to reach several people. According to the World Bank report, 21% chunk of Indian population is unbanked. The present paper dispenses a perspective on the cognizance and acceptance of payment banks among college students during the pandemic period. For the aim of the study both primary and secondary knowledge is used. The information collected are analyzed using applicable statistical techniques. It will collaboratively highlight the prerequisites of payment banks in India and its future.