IMPACT OF ACCEPTANCE OF DIGITAL BANKING ON ECONOMIC DEVELOPMENT OF INDIA DURING COVID-19: AN ANALYSIS

A shift of viewpoint regarding internet services has taken place over the course of a considerable amount of time and has developed gradually over the same. Internet services, which were once regarded to be a luxury commodity, are now widely recognized as being among the fundamental requirements for leading a normal life. On the other side, ever since the beginning of the COVID-19 outbreak, technology has shifted from being a luxury product to a need. This change occurred over the course of the epidemic. It is presently the driving force behind our day-to-day activities, and everyone is required to connect with online services and learn how to make use of them, despite the fact that they will eventually have the option to disregard these technologies at some time in the future. At the same time, both individuals and institutions are finding themselves under an increasing degree of strain and have a responsibility to educate themselves on how to make use of online services and to incorporate online services into the delivery of their own services, respectively. In addition, in order for governments to provide their population with access to internet services and ensure that they satisfy the requirements, it is now an imperative necessity for such nations to construct the essential infrastructure. This is especially true for nations that are still in the process of developing. The usage of digital banking provides a solution that may be accomplished in a single step to a range of financial needs. These needs may include, amongst others, cash deposits, cash withdrawals, and money transfers.