Article
https://doi.org/10.52783/mjble.147
A Comparative Study on Feasibility of Digital Payments in Rural India: Special Reference to Punjab
Financial activities have changed a lot because of digital technology, but India's rural areas are still taking a while to get used to it. This research looks at digital payments in rural Punjab to find problems and chances for their widespread use. Digital payments in Majha, Malwa, and Doaba of Punjab, are the center of the study. For this, first-hand information was gathered from rural Punjab. Random sampling is used to get information about rural consumers. The sample size is 400, with four people from each of Punjab's 100 towns taking part. More and more people are using digital payment ways, but they have a lot of problems. Not having access to the internet, not knowing how to use technology, and not wanting to change are big problems. But programs run by the government, like internet India, can make internet infrastructure better and teach people more about money. Financial institutions and tech companies should make answers that fit the needs of rural areas. The suggestions in this study can help policymakers, banks, and tech companies make digital payments more popular and useful in rural areas. Dealing with problems and taking advantage of chances can make it easier for people in rural Punjab to get access to financial services and take part in the economy. This could set an example for other rural Indian areas. The study stresses how important it is to keep in touch with people in rural areas to learn about their wants and needs. The gap in the use of digital payments between cities and rural places can be closed by teaching people how to use technology and improving internet access. The government, banks, and tech companies need to work together to speed up the digital payment revolution and make it easier for people in rural areas to use banking services. India's country policies and plans can be influenced by what Punjab has taught us.