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The development of a nation depends on the growth and prosperity of its people and financial inclusion is paving that way in India (Patwardhan, 2018). According to (Raj & Upadhyay, 2020), the digitalization of the financial sector has brought significant transformation in India. The government under its flagship program of “Digital India” is transforming it into a digitally empowered society and knowledge economy in front of the world. This highlights the importance of creating digital financial awareness among people so that they can effectively use financial services digitally (Bathula & Gupta, 2021). In the scenario of the COVID pandemic, the importance of virtual operations is highly felt. Starting from the purchase of groceries to banking services, people have started using the virtual platform (Fu &Mishra, 2021). For carrying out various transactions, people showed their dependence on various digital methods of payment like bank cards, payment banks, and e-wallets to name a few (Mosteanu et al., 2020). However, this scenario is not the same everywhere. People in the urban areas have easy access to the internet and other technology which on the other hand is a major constraint for the rural population.
Innovation and growth are two inseparable aspects of development. Digital innovation in the current years in every sphere of the economy like banking, insurance, production, etc, has paved the way for the development of our economy.
The Indian government has started many initiatives to increase the ambit of financial inclusion. Financial inclusion is the provision of financial services to people at an affordable cost. It aims at encouraging the people of the unprivileged section of society to use various financial services at a cost that they can thrive (Joshi, 2017). (Bathula & Gupta, 2021) in their research work highlighted that to reach the goal of inclusive growth, the government of India has started encouraging people to use digital platforms while using different financial services.
The constant escalation in the use of smartphones and growing internet coverage has made the digital accessibility of the different financial services, including banking services, easy (Raj & Upadhyay, 2020).
With the digital availability of various banking products and services, it becomes essential to encourage people for using them. The ongoing pandemic in India has led to a tremendous increase in virtual or digital banking. This has ultimately raised the expectations of consumers who want instant and personalized services specifically during the period of growing pandemic (Siby, 2021). In this context, it becomes important to find if people are aware of the various digital platform for using banking services. It is equally important to realize whether they can access those services digitally or not. Knowing the satisfaction of people using these digital services is worth studying as it will give us a lucid picture of different factors causing satisfaction along with factors causing dissatisfaction while using those services (Erevelles et al., 2003). When people are using various financial services digitally, it becomes essential to know about different problems encountered while the digital usage. Discovering their level of satisfaction in using different digital payment methods is equally significant (Tiwari and Singh, 2019). To achieve the objective of inclusive growth digitally, people must have both affordable access to financial services and the ability to use these services digitally.