( ISSN 2277 - 9809 (online) ISSN 2348 - 9359 (Print) ) New DOI : 10.32804/IRJMSH

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PLASTIC MONEY USAGE IN INDIA: A COMPARATIVE ANALYSIS OF PUBLIC AND PRIVATE SECTOR BANKS IN INDIA

    1 Author(s):  NIMRAT KAUR

Vol -  9, Issue- 10 ,         Page(s) : 133 - 149  (2018 ) DOI : https://doi.org/10.32804/IRJMSH

Abstract

The use of plastic money now-a-days has brought revolutionary change in the living standards of people in India. The several problems associated with the traditional medium of exchange have led the individuals to adopt these technological changes in order to be in the race of this smart world. These technological changes have significant impact on the banking system and to keep in pace with these technological changes all the banks operating under public and private sector domains are striving hard to compete. Plastic card is one of the innovations of banking system wherein a card holder can keep a thousand or lacs of rupees in his packet without any fear of loss or theft. In the present paper, an attempt has been made to study the growth of plastic money in India both in terms of debit and credit cards over a period of four years i.e. from the year 2011 to 2014. In addition to this, an attempt has also been made to conduct a comparative analysis regarding the usage of debit and credit cards of public and private sector banks in India. The results of the study reveal a significant association between the credit cards transactions of public and private sector banks in India. On the contrary, insignificant difference has been observed for debit cards transactions.

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