Published Paper Details:

Saving and investment plays an important role in economic development of the country. Banks are an important part of the Indian financial system who acts as an intermediary in the saving investment process. Banks are the financial intermediary who accepts money in form of deposits and gives loans and advances to the individuals who are in need of finance. It encourages people to save and give good returns to them in form of interest. Remarkable changes have been seen in the Indian Financial system since 1991. Genesis of Payment Banks are viewed as a major innovative change in the Indian Banking Industry. Inclusion of these new banks in the Indian banking industry is a major step by the RBI for financial inclusion. This research is focused on providing a study of working and challenges of Payment Banks and their role in Financial Inclusion. Secondary data has been used to analyse their role in financial inclusion and as a result it was seen that all the three dimensions of financial inclusion shows increasing trend.