Keywords : Mobile banking, Internet banking, Financial inclusion, Digital banking, Unified Payments Interface (UPI), India, Digital economy

Abstract : With internet banking and mobile banking options serving as a key instrument in connecting India`s underserved areas to the financial world, technological advancements in the banking sector are also reaching previously unheard-of levels. This study examines the trends, problems, and opportunities associated with using internet and mobile banking within the January–October time range of 2024. The study highlights the combined characteristics of various systems, including availability, affordability, and ease of use. Mobile banking has been perfect for daily minor and micro transactions because to its enormous user bases, and it has expanded the reach of financial services in less developed and rural economies. However, because of the sophisticated technology it offers, internet banking has a smaller customer base because it is best suited for low payments and big volume businesses. The findings imply that a number of factors, including but not limited to government initiatives like the Digital India program, UPI, and expanding access to smartphones, are driving the growth of these platforms. However, there are still several obstacles, such as the lack of digital skills, infrastructure availability, and cyber security risks. Nonetheless, these platforms present excellent chances to enhance economic marginalization, boost trust in emerging financial structures, and promote economic growth overall.

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