Journal Press India^®

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Payment Banks is a buzz word in Indian banking sector now. Reserve Bank of India has granted licenses to 11 entities to enhance the financial inclusion in India. The objective of the research paper is to analyse the awareness level regarding payment banks in India by low income group people, and the impact of payment banks on acceptability of banking services by low income group in spite of existing commercial banks. To analyze the applicability and reliability of scale, factor analysis has been administered before the use of stepwise method (forward selection) of multiple regression. Primary data on 5 point Likert scale has collected from the Delhi region with the help of questionnaires through a self administered approach. Stratified random sampling technique was used and total 391 useful schedules were considered for analysis of data using SPSS version 23. The results of the study show that there is a low awareness level regarding payment banks in India among low income group people, and also having positive impact of payment banks on acceptability of banking services by low income group in India.

Keywords

Payment Banks, Low income group, Awareness level, financial inclusion.

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