2025, Vol. 6, Issue 2, Part J
An empirical study on challenges faced by customers using digital banking products in Karnataka
Author(s): Krishna CP
Abstract: Digital banking in India has experienced significant growth, with over 600 million Unified Payments Interface (UPI) transactions processed daily by August 2025. Despite this expansion, customers face several challenges in adopting and utilizing digital banking products. A study conducted revealed that 120 respondents identified complex transaction processes as a major issue, with ATM cards being the most familiar digital banking service. Additionally, cybersecurity threats such as phishing and malware attacks remain prevalent, leading to significant financial losses and consumer distrust. The Reserve Bank of India's Digital Payments Index showed a 10.7% year-on-year increase in FY 2024-25, indicating growing confidence in digital transactions. However, challenges persist, including limited digital literacy, especially among 46 years and above age group, less proficient in online transactions. Addressing these issues is crucial for enhancing the adoption and effectiveness of digital banking services in India.
Pages: 945-949 | Views: 199 | Downloads: 67
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How to cite this article:
Krishna CP. An empirical study on challenges faced by customers using digital banking products in Karnataka. Asian J Manage Commerce 2025;6(2):945-949.
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