• Dr. Savitha V

Financial exclusion is expensive. It impact people’s quality of life and it prevents them from investing in their future. Access to financial services is a vital factor for coping with escaping poverty. Bank and Financial institution play a vital role in financial inclusion. It aims to eliminate barriers and there are many sections of society in India that do not have any access to financial services. They are not aware of banks and their functions, even if they aware of banks they do not have the access to get services from banks. In order give solution to this, the ideas of payment Banks came out. The goal being to broaden the reach of payments, increased access to financial services to small business, low income households and vulnerable populations. The main objective of this study is to know awareness level, preference and impact of demographic factors on awareness level. The structured questionnaire has been used to gather the data from 132 respondents in Mandya city. Statistical tools like percentage and weighted average method is used to represent the data. The study found that most of the respondents are aware about payment banks and their role in financial inclusion. The study suggested that the bank should appoint more number of the executive in order to increase the awareness of the general public with respect to operations of the payment bank. The Study concluded that in order to provide financial services to unbanked section of the society. The government of the India encourages payment banks to ensure the financial inclusion by providing payments/remittance services to migrant labour workforce, opening up small savings accounts of small business holders, low-income households, workers of the unorganized sector.

Awareness, Financial Inclusion, Payment bank, Unorganized Sector

"A Study on Customer’s Awareness and Preference on payment Banks with special reference to Mandya city", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.8, Issue 12, page no.e686-e695, December-2021, Available :http://www.jetir.org/papers/JETIR2112482.pdf

"A Study on Customer’s Awareness and Preference on payment Banks with special reference to Mandya city", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.8, Issue 12, page no. ppe686-e695, December-2021, Available at : http://www.jetir.org/papers/JETIR2112482.pdf