A Study on Challenges and Risks Faced by Senior Citizens in Adopting Digital Banking Services in Rajgurunagar

Abstract

Digital banking in India has grown, changing the way people manage their finances, enabling quicker and easier transactions.” But there are still a lot of older people that struggle with these varying systems. The challenges they face are narrowed by pervasive technology limitations, age related barriers and heightened fears of online fraud. This research investigates issues that senior citizens in Rajgurunagar face while using digital technologies ¬- ATMs, mobile banking, UPI and internet banking. Using a combination of survey data and interviews with 80 people, the research has identified major obstacles among them not feeling confident, struggling to remember login information and worrying about being tricked out of money. The results indicate the importance of a simpler digital interface, focused training and stronger security to foster trust in digital banking use among older people.