Abstract
Recent initiatives of demonetisation and goods and service tax (GST) in India have promulgated more transactions via formal banking channel through digital mode making India a sustainable, less-cash economy. But current penetration of digital banking is in India is only 18% (Mckinsey Asia Financial Survey). Hence this research paper has a purpose to understand the root causes and customer's hitches for digital banking and to suggest a model to increase the penetration of digital banking in India. A survey of 690 banking customers is done to understand customer's interest for digital banking. Out of the six identified hitches for digital banking it is found that 'hitches of identity theft while using NET banking' and 'hitches due to misuse of confidential information by companies' are the most significant predictors to estimate the customer's interest for using digital banking. Customer's interest for digital banking varies significantly with age.
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