ISSN: 2349-5162 | Impact Factor: 5.87

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Published in:

Volume 5 Issue 10
October-2018
eISSN: 2349-5162

Unique Identifier

JETIRG006021

Page Number

165-174

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Title

Payment Bank:A Revolutionary step of Indian Post Payment Bank towards financial inclusion.

ISSN

2349-5162

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"Payment Bank:A Revolutionary step of Indian Post Payment Bank towards financial inclusion.", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.5, Issue 10, page no.165-174, October-2018, Available :http://www.jetir.org/papers/JETIRG006021.pdf

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Abstract

The Indian financial system has witnessed remarkable changes since 1991.Banking sector is one among which is performing really well after liberalization, and success can truly be associated with major banking reforms taken by RBI some major technological changes that have take place over years . In 2014, RBI introduced two new categories of banks into the Indian financial system, namely Payment Banks and Small Banks. The core objective of introducing these banks to increase the financial inclusion and spreading financial product and services tountapped rural area .Payment banks is a new kind of bank which is potential with the express purpose of extending the reach of banking to vast majority of the unbanked and under banked segments of the population. This paper presents about the framework of the payment banks, and the expected benefits from the payment banks. How this Indian Post Payment Bank going to be remarkable step towards providing financial services to customers, especially migrant workers and those from lower income households, as well as bring them into the formal financial system. IsIndian post Payment bank going to be second wave of financial inclusion after the first wave of the Pradhan Mantri Jan Dhan Yojana. This paper is completely based on secondary data to give overall idea about payment bank and its working mechanism and how the concept of payments bank kills two birds with one stone. Firstly, its movement towards the financial inclusion initiative by widening the digital payment infrastructure. Secondly, it encourages the Financial Technology culture in the Indian banking. Findings are favorable in deepening the financial services and financial inclusion in India, especially in the rural areas, mainly focusing on low-income groups and small businesses.

Key Words

RBI ,Payment Bank , Financial Inclusion , Indian Post Payment Bank.

Cite This Article

"Payment Bank:A Revolutionary step of Indian Post Payment Bank towards financial inclusion.", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 10, page no. pp165-174, October-2018, Available at : http://www.jetir.org/papers/JETIRG006021.pdf

Publication Details

Published Paper ID: JETIRG006021
Registration ID: 189016
Published In: Volume 5 | Issue 10 | Year October-2018
DOI (Digital Object Identifier):
Page No: 165-174
ISSN Number: 2349-5162

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(Volume 5 | Issue 12 | December 2018 |Impact factor 5.87)

Call For Paper | Volume 5 | Issue 12 | Impact factor 5.87


Cite This Article

"Payment Bank:A Revolutionary step of Indian Post Payment Bank towards financial inclusion.", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 10, page no. pp165-174, October-2018, Available at : http://www.jetir.org/papers/JETIRG006021.pdf

Important Dates Related to Publication Procedure:
  • » Paper Submission Till: 29 December 2018.
  • » UGC and ISSN Approved Journal
  • » Review (Acceptance/Rejection) Notification: Within 02-04 Days.
  • » Paper Publish:Within 02-07 Days after submitting the all documents.
  • » Frequency: Monthly (12 issue Annually)
  • » Journal Type : Open Access
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