• Dr. Geetha M L

Digital currency is the result of innovation in the field of Information technology. Digitalisation of banking activities in India gained importance after the currency note ban of Rs.500 and Rs.1000 denominations from the economy in November 2016. Present banking system with the intention to make digital transactions major mode of transaction having least money transactions was initiated with the introduction of new banking services like internet banking, digital wallets, Point-of-Sale machines, credit and debit cards, etc. making it more popular among Indian youth. India is the fastest growing economy having fifth of the world's youth with more than 1.3 billion population under the age of 25 years and quarter less than 14 years shows us the countries potential to achieve success in the field of education, health, manufacturing, information technology, Banking and so on. In this context there is a need to study digital banking and its impact on the economic development. The present study is descriptive in nature and is based on primary data. The study makes at attempt to analyse opportunities and challenges brought in by Digital banking in India.

Digital banking, Economic Development, Govt. of India.

"IMPACT OF DIGITAL PAYMENT SYSTEM ON INDIAN BANKING SECTOR", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.3, Issue 1, page no.753-759, January-2016, Available :http://www.jetir.org/papers/JETIR1701C20.pdf

"IMPACT OF DIGITAL PAYMENT SYSTEM ON INDIAN BANKING SECTOR", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.3, Issue 1, page no. pp753-759, January-2016, Available at : http://www.jetir.org/papers/JETIR1701C20.pdf