Disruption in Banking in Emerging Market Economy: An Empirical Study of India
Disruption in Banking in Emerging Market Economy: An Empirical Study of India

Summary/Abstract: The present study was taken up to capture the ongoing disruptions in banking in the Indianeconomy. The objective of this research was to: (1) study the initiatives taken by Reserve Bank ofIndia to stimulate the payment market, (2) explore the disruptions in the Indian payment space, (3)examine the digitization at banks in India and (4) identify the challenges faced by traditional Indianbanks and (5) propose measures to cope with threats posed by non-bank players. The study foundthat as technology companies and other non-bank players have successfully penetrated into largecustomer segments by offering basic banking services, to the customers at their doorsteps and attheir convenience; it is obligatory for the traditional banks to expand market outreach and enrichservice quality via digital podia, strategic alliances and disruptive innovations, in case they wish toavoid the risk of being relegated to back-office utilities.

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