Payment banks — A new milestone for banking penetration in India

C. Paramasivan and G. Ravichandiran
Additional contact information
C. Paramasivan: Department of Commerce, Periyar E.V.R. College (Autonomous), Tiruchirappalli 620023, Tamil Nadu, India
G. Ravichandiran: Department of Commerce, Periyar E.V.R. College (Autonomous), Tiruchirappalli 620023, Tamil Nadu, India

International Journal of Financial Engineering (IJFE), 2024, vol. 11, issue 04, 1-15

Abstract: The purpose of the banking sector in the country is to provide banking services to all the people with a simple and easy manner with this view, PMJDY was introduced in 2014 to provide bank account to unbanked people free of cost and with simplification of KYC norms. All the incentives and monetary benefits to the targeted people will reach only through direct benefit transfer scheme which is linked with bank account and Aadhar. Banks also concentrate on urban and unbanked areas through single window banking and post office savings bank scheme. With this view, payment banks play a key role in banking penetration in the country. This paper made an attempt to discuss performance of payment banks with respect to financial performance.

Keywords: Aadhaar; KYC norms; payment banks; small finance banks; banking penetration (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.worldscientific.com/doi/abs/10.1142/S2424786323500627
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:ijfexx:v:11:y:2024:i:04:n:s2424786323500627

Ordering information: This journal article can be ordered from

DOI: 10.1142/S2424786323500627

Access Statistics for this article

International Journal of Financial Engineering (IJFE) is currently edited by George Yuan

More articles in International Journal of Financial Engineering (IJFE) from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().