Comparative Analysis of Online Transaction Between Private and Public Sector Banks

Digital India was a campaign launched on the 1 st July 2015 by the Indian Prime Minister to ensure that Government's services were made available directly to the citizens electronically by improvised online infrastructure, increasing Internet connectivity and making the country digitally empowered in the fields of technology. Due to this online infrastructure people were subtly relieved to some extent in the crucial hits of demonetization (8^th November 2016) as banking services were available through the internet. This study is in lieu of demonetization and its aftermath on the volume of transaction through the online mode.

This study broadly focuses on impact of demonetization on the spectrum of 10 Indian banks, considering the five Public sector banks, viz the State Bank of India (SBI), Canara Bank, IDBI bank, Indian Overseas Bank & Bank of Baroda and five private sector banks. Viz HDFC bank, ICICI bank, AXIS bank, Kotak Mahindra Bank & Karnataka Bank. To consider the effect of these policies on the transactions carried out monthly specifically 15 months prior and post demonetisation is extracted and studied.

This paper gives a comparison between public/private sector banks specifically the change in the volume of transactions and the total amounts of transactions. The data has been taken from the Annual reports of RBI and the above specified public/private sector banks.