Digital Banking through the Uncertain COVID Period: A Panel Data Study

Kuldeep Singh (), Sam Goundar, Preetha Chandran, Amit Kumar Agrawal, Nimisha Singh and Prasanna Kolar
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Kuldeep Singh: Faculty of Management Studies, CMS Business School, JAIN (Deemed to be) University, Bangalore 560009, India
Sam Goundar: Department of Information Technology, School of Science and Technology, RMIT University, Hanoi 100000, Vietnam
Preetha Chandran: Welingkar Institute of Management, Bangalore 560100, India
Amit Kumar Agrawal: Department of Humanities and Management, International Institute of Information Technology, Naya Raipur 493661, India
Nimisha Singh: Department of Management Studies, Indian Institute of Information Technology, Allahabad 211015, India
Prasanna Kolar: Department of Agriculture, Koneru Lakshmaiah Education Foundation, Vijayawada 522302, India

JRFM, 2023, vol. 16, issue 5, 1-18

Abstract: This research investigates how the uncertainty caused by the COVID-19 pandemic has affected digital banking usage in India. The study is made by utilizing a panel of data consisting of 108 firm-month observations during covid period from 2020 to 2022, with data mainly collected to analyze the impact of COVID-19 uncertainty. Most of the determinants were collected from the RBI data website. The main emphasis of this study is on the utilization of digital banking services in the context of the pandemic, and the research assesses the factors that have influenced this trend, including the number of physical bank branches, the utilization of debit and credit cards at automated teller machines (ATMs) and points of sale (PoS), as well as the level of economic policy uncertainty (EPU). The analysis was conducted using panel regression analysis, a suitable method for handling the error components in the model that are either fixed or random. The findings indicate that the uncertainty caused by the pandemic has had a negative impact on the use of digital banking services. Additionally, the study highlights that the usage of debit and credit cards at PoS has significantly contributed to promoting the progress of digital banking services during the pandemic. Overall, this study provides valuable insights into how digital banking services have evolved during a period of significant uncertainty and disruption.

Keywords: digital banking; uncertainty; COVID; panel regression analysis (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2023
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