India’s Financial Sector in the Digital Age: A Study of Banking Transformation

Digital banking means using the internet or mobile apps to do banking. It has changed how people in India use money and access bank services. This research paper talks about how digital banking has helped more people open bank accounts, make payments easily and grow the Indian economy. It also discusses the problems of digital banking like internet issues and online fraud. The paper gives real-life examples and talks about what the future of banking in India could look like. Along with this research, we also looked at the data of digital payment indicators and transactions from 2018 to 2024, which was published by RBI (Reserve Bank of India). This paper explores the evolution, benefits and challenges of digital banking in India. It's applying technological advancement and government policies for providing better results to the Indian financial sector.