ISSN

2321-5763 (Online)
0976-495X (Print)


Author(s): Sivadarsan. S, G. B. Deenesh, Fahad Irshad, Manu K. S

Email(s): manu.ks@christuniversity.in

DOI: 10.52711/2321-5763.2021.00064   

Address: Sivadarsan. S1, G. B. Deenesh1, Fahad Irshad1, Dr Manu K. S2
1Student, School of Business and Management, Christ (Deemed to be) University, Benguluru.
2Assistant Professor, School of Business and Management, Christ (Deemed to be) University, Benguluru.
*Corresponding Author

Published In:   Volume - 12,      Issue - 4,     Year - 2021


ABSTRACT:
Artificial intelligence is the key to the future. The banking sector is one sector which has developed over the period of time inculcating AI in their daily activities and business model. The Indian banking system has seen an increase in physical banks in spite of huge developments in AI based applications. The study focuses on the problem where bank have been moving to technology-based application but this has created inconvenience for certain group of people. The study also focusses on creating awareness on the importance of physical banks in India. The study found few reasons why Indians prefer physical bank branches is due to the traditional trust that Indians believe in physical contact with the respective banking executive. The fear of losing money while using online banking still exists. India has a huge rural population where internet facilities , people’s literacy level , unavailability of employees with right data science skills in banking sector have not been developed which creates a roadblock for digital baking and AI to exist in rural areas. Further, the applications of AI which helps physical banks to maintain customer databases, automating various process, detect fraudulent activities, risk management, better decision making etc. Overall the study found that still Indian banks and customers have traditional relationship especially in rural India. People need a Physical Contact and trust to come into Banking Sector. So, the Need of Physical Banks is inevitable right now. India still long way to replace physical banks with AI based full automated banks


Cite this article:
Sivadarsan. S, G. B. Deenesh, Fahad Irshad, Manu K. S. Is Physical Banks Really Necessary: The Case of India. Asian Journal of Management. 2021;12(4):423-9. doi: 10.52711/2321-5763.2021.00064

Cite(Electronic):
Sivadarsan. S, G. B. Deenesh, Fahad Irshad, Manu K. S. Is Physical Banks Really Necessary: The Case of India. Asian Journal of Management. 2021;12(4):423-9. doi: 10.52711/2321-5763.2021.00064   Available on: https://ajmjournal.com/AbstractView.aspx?PID=2021-12-4-12


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Asian Journal of Management (AJM) is an international, peer-reviewed journal, devoted to managerial sciences. The aim of AJM is to publish the relevant to applied management theory and practice...... Read more >>>

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