Awareness and Perception of Payment Banks Among Next-generation Users in Tamil Nadu

Abstract

Purpose:

The main aim of this study is to identify the awareness level and perception of payment banks among next-generation users in Tamil Nadu.

Methodology:

A structured questionnaire was used for primary data collection. The convenience sampling method was used to identify the awareness level and perception of payment banks among next-generation users in Tamil Nadu. The questionnaire was distributed to 250 respondents, out of which 238 were returned, and 10 questionnaires were rejected due to incomplete responses. The sample size is 228.

Findings:

It is found that there is a significant relationship between demographic factors that appropriately explain the next-generation user’s perception towards payment banks. The next generation of users prefer to use payment banks because of time saving, and it is comfortable while using payment banks.

Practical implications:

The study will help to create awareness and perception of next-generation users who are studying in colleges, newly placed students and benefit from using the services introduced by RBI.