A Survey Of Cohortic Behaviour Of Fintech Users Through Payment Banks At 35 A Mumbai Suburban College

Abstract

Technology and banking are phenomenal in terms of this modern era. In this techno-savvy age, the banking sector plays a dynamic role in society. Modern technology has drastically changed the banking sector in terms of financial transactions. The Indian banking sector was also affected by technology and the introduction of payments banks. A payments bank is a bank that is designed to operate on a small scale without allocating credit. These payments banks were specially designed for economically weaker and rural people. In 2015, initially, the RBI sectioned 11 banks as payments banks. However, now only six payments banks are working in the present market. This paper focuses on payment banks and their usage by the public. Hence, a survey was conducted on SST College students, faculty members, administration employees, and the neighboring public to know the usage of payments banks. The article gives an understanding of payments bank and their usage. Nevertheless, this study can be helpful for the general public and the new generation interested in the banking system.