• Priya Raman

The Indian government along with Reserve Bank of India (RBI) have made a variety of measures to encourage rural people to become financially included. The scope of payment banks in India is the subject of this study paper, which is a recent effort undertaken by the Reserve Bank of India and the Government of India. One of the main problems facing the Indian economy today is the banking sector's non-inclusion in rural India. Payment banks are also being established to concentrate on low-income families and small companies with high volume but low-value transactions. The purpose of this review paper is to look at the feasibility of payment banks as well as the benefits and drawbacks of this new venture. In this review paper, we will discuss people's views of payment banks and make some conclusions. After complete review it may be concluded that payment banks could be a fantastic way to promote financial inclusion provided proper measures are taken to carry this endeavour forward.

Business Correspondence, Customer Penetration, Payment Bank, Paytm, Pradhan Mantri Jan Dhan Yojna.

"Payment Banks’ Role in India: Understanding the New Era", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 1, page no.510-515, January-2019, Available :http://www.jetir.org/papers/JETIRFT06097.pdf

"Payment Banks’ Role in India: Understanding the New Era", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 1, page no. pp510-515, January-2019, Available at : http://www.jetir.org/papers/JETIRFT06097.pdf