The Impact of Awareness on Adoption Factors of Payments Banks in Manipur

Abstract

Financial inclusion is crucial for every economy, with financial institutions serving as its backbone. The RBI introduced payments banks in 2014 to support the under-banked population in India. This study investigates the awareness of payments banks in Manipur and the factors influencing their adoption. The main objective is to analyse the mediating effects of awareness on factors affecting the intention to adopt payments bank services. A sample of 390 respondents was selected using random sampling to represent various demographics. Data analysis was performed using path analysis SEM in Amos. The study found that awareness partially mediates the relationship between marketing efforts and future intentions, as well as between technological factors and future intentions, both showing significant positive effects. However, awareness does not significantly mediate the relationship between financial literacy and future intentions. These insights can help payments banks' marketing executives develop strategies to promote financial inclusion and digital transformation.