A Study on Impact of Covid-19 on Mobile Banking

Banking has changed from the conventional brick and adhesive model to modern banking which has allowed the customers to reach their banks easily through their mobile phones. The GOI has also extended its support to the mobile wallets through its partnership prototypes with various banks to increase the acceptance of M-Banking among the users. RBI has also encouraged the digital payments through mobile wallets during the Covid19 pandemic as it would make sure that the social distancing protocols are being followed. Dr. Jain et al. (2020) After, demonetization, the Covid-19 pandemic is the second largest situation that has led to 5% growth in the mobile banking just in a period of 3 months from January to March 2020(Statista) and is further expected to grow even more. Hence this study is aimed at towards identifying the growth in mobile banking during Covid-19. The research also intends to study how crucially these online transactions have helped during Covid-19 pandemic