IMPACT OF DEMONETIZATION AND COVID-19 ON THE USAGE OF INTERNET BANKING OF ICICI AND HDFC BANK IN MARATHWADA REGION

Abstract

Following demonetization and the COVID-19 pandemic, people have preferred cashless transactions or online transactions over exchanging cash currency. Internet banking encompasses a wide range of banking activities that the consumer can perform online. Because these online transactions can be completed from a distance, contact is not required, and the risk of contracting COVID-19 is reduced. As a result, the purpose of this research is to investigate the use of Internet banking in HDFC and ICICI banks in the Marathwada region before, during, and after the pandemic and demonetization. This is a comparative study to investigate the impact of demonetization & Covid19 on the usage of internet banking offered by respective banks. The study focuses on primary data collected through questionnaires. Secondary data was gathered through online articles on economic times, RBI reports, journals, newspapers, and other sources in order to review the literature and understand the theoretical background of Internet banking in India prior to demonetization, during COVID-19 , and after COVID-19. There is a significant difference in the factors influencing the use of Internet banking services at various stages of a pandemic situation. Banks not only provided internet banking services to customers, but they also increased customer loyalty