Even as there is a surge in adoption of digital banking, physical branches will continue to be relevant as a large percentage of customers are more comfortable doing transactions at branches, according to bankers Banks should make efforts in educating customers about various aspects of digital banking so that they can conveniently use these channels. "I think branches, as a mode or a channel, will not be totally discounted. There is still a significant population who will be more comfortable in one-to-one dealings rather than only digital. "Around 90 per cent of the banking transactions in India have now started moving into the non-branch channel such as internet banking , mobile banking or ATM. "So, I think (the chances of bank) branches coming down to zero are less," he said, adding that the role of branches, however, will change in future.

Source: Economic Times November 24, 2021 22:06 UTC