India's Online Banking Adoption: A Critical Analysis of Rural and Urban Scenarios

Abstract

In India, online banking has completely changed the retail banking landscape. Banks are responding to the technological shift by launching online and mobile banking services. With the rise in internet and smartphone penetration, Internet banking is becoming more popular. However, whether this flexibility varies between banking clients in urban and rural regions is a major issue, and the goal of this research was to see whether there is a variation in patterns of Internet banking use between the two groups. The research also looks at consumer perceptions of digital banking and highlights the important variables influencing internet banking usage and uptake. The research is carried out on a selected sample of 200 consumers in Jaipur and Meerut, as well as surrounding rural regions, using a predetermined set of questions. The study's findings show that there is a disparity in internet banking use between rural and urban regions, with reasons such as language hurdles, education level, and a lack of technological expertise to blame. However, the research shows that consumers in both regions have a favourable view of online banking services, implying that banks may boost use in both areas by raising awareness and providing better service to clients.