Impact of digital banking on financial inclusion: An investigation on youngsters in Rupnagar city, Punjab

Financial inclusion is the process of restoring the formal financial services to vulnerable group of people and adds them from disadvantaged populace into advantaged one. Indian Government and Reserve bank of India have taken certain steps in the promotion of financial inclusion through digitization such as ATM, Mobile banking, Internet banking, E-wallets etc. Financial institutions such as Banks, Insurance companies and Post offices have done various renovations to reach to masses. This study focuses on awareness among youngsters towards financial inclusion and to identify the most preferred digital banking channel to promote financial inclusion. Findings show that digital banking and its channels act magnificently and have positive impact on financial inclusion. Security is a key issue that leads to lack of confidence among youngsters towards technology.