IMPACT OF DIGITAL TRANSFORMATION OF BANKING SECTOR IN RURAL AREAS

Abstract

The use of digital technology to improve present processes or introduce new methods of conducting
company operations, which improves the customer experience and leads to better currency exchange
rates for the firm, is referred to as digitalization. Digital transformation in digital age means redesigning
corporate procedures. The main aim of this study was to look at the socioeconomic characteristics of
respondents who were chosen from the study area.The four main parts of digital transformation are
technology, software, data, and organizational reorganization. In India's banking system, banks play a
critical role. They are in charge of managing public finances and investing in the expansion of business
and trade. In emerging countries like India, where other financial sectors are still in their infancy, the
banking industry accounts for the majority of the financial sector. Banks' stability is vital since they act
as trustees of public funds, mobilizers, and funders of various operations at the regional and
international levels. The banking business has grown from a basic middleman to a vast commercial
enterprise.Hence, the article concluded that the impact of the digital banking services on rural customers
is significant