A common perception is that most of the rural population in India is not well versed in digital banking.

 

What can be described as a revelation, however, is that, according to a pan-Indian Financial Literacy and Inclusion Survey conducted by the Reserve Bank of India (RBI), awareness and knowledge of digital banking is low on par among rural and urban populations across the country, with the Average for both segments is 11.7 with a score of 21.

The survey was based on three parameters, namely financial knowledge, attitude and behavior. With an overall score of 21, the average city and country score was 11.7.

Zone by zone, the scores were as follows: In the North Zone, scores in urban and rural areas were on par at 11.5 each.

Also in the East Zone, the score was 12.1 for both rural and urban areas.

In the middle zone, the score for urban areas was 12.5 and slightly lower for rural areas at 12.1.

The West Zone also showed head-to-head readings, with urban areas registering 12.6 and rural areas registering 12.5.

In the South Zone, the urban area score was 11.2, while the rural area score was 10.3.

Since both urban and rural areas do not show much disparity nationwide according to the RBI survey, this suggests that in terms of digital banking awareness, much needs to be done to improve knowledge among all strata of society.

–IANS

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