Payment Banks and Financial Inclusion: An Empirical Study on Customer Awareness and Perception

The introduction of Payment Banks in India represents a significant policy initiative by the Reserve Bank of India (RBI) to deepen financial inclusion and promote digital transactions. Despite their potential, the actual awareness and acceptance of Payment Banks among customers remain critical to their success. This study aims to examine customer awareness, perceptions, and challenges associated with Payment Banks in Bagalkot district, Karnataka. Primary data was collected through a structured questionnaire from 100 respondents, covering demographic details, awareness levels, perceptions measured on a Likert scale, and challenges in availing services. The data was analyzed using descriptive statistics, t-tests, chi-square tests, ANOVA, and factor analysis.