A Study of Adoption of Digital Banking Services Wrt SHG Women, Mumbai

The present study has undertaken non-resilient subjective factors as a theoretical and empirical framework that focuses on issues due to inappropriate perception, rigid belief, traditional culture and regressive social norms of the SHGs women for non-usage of digital banking. In the era of digitalization, the Reserve bank of India has announced digital currency to boost the Indian economy. However, around 67 million Indian poor women still rely mainly on cash transactions. Many stakeholders have tried in vain to educate them, for creating awareness of ease of usage of digital banking but these women are handicapped while facing multiple issues which indicated the non-resilient attitude of SHGs women.

 By using a simple and stratified Random Sampling method 55 SHGs were contacted located in Mumbai and collected the data from 115 women members only. Furthermore, only non-digital banking users were contacted and completed the schedule (questionnaire). The instrument was based on UTAUT Model developed by Venkatesh et al (2003) and only four constructs were undertaken, namely, Perceived Credibility, Facilitating Condition, Perceived Cost and Bank Related Issues to identify the causes of individual issues faced by SHGs women which leads to a non-resilient attitude.  Few items were modified and translated into Marathi for ease of understanding of the uneducated respondents.

The findings of the study indicated that there was a moderate, negative correlation between ‘Individual Issues’ and ‘Non-Facilitating Conditions’ of the SHGs women. There was a strong, positive correlation between ‘Individual Issues’ and ‘Perceived Non-Credibility’ & ‘Banking Process’. However, the moderate but positive relation observed for Perceived Cost. The model of Multiple Regression predicted that Digital Banking Process, Non-Facilitating Conditions, Perceived Cost, Perceived Non-Creditability explained 37% of the variance in Individual Issues.

The findings of the study were examined in the light of resilient vs non-resilient attitudes of SHG women and with the available literature. The findings of the study were examined in the light of resilient vs non-resilient attitudes of SHG women with available literature. The outcome of the study will be implied to all the stakeholders, including the government and the banks.