Paper Title
Financial Inclusion and Beyond: A Paradigm Shift in Indian Banking Sector

The purpose of this paper is to examine the approach adopted by Indian Banking Industry towards financial inclusion and evaluate the viability of each model facilitating inclusion. The paper is extended to critically evaluate the indirect benefits brought to the banking industry with financial inclusion and discusses the future of banking industry i.e. the way banking is going to shape up in future. An exploratory study performed in six districts of Rajasthan (India), about consumer acceptance of alternate channels for banking/payment services is conducted. The paper examines both consumer related factors that may affect the acceptance of new product (such as complexity, perceived risk, and relative advantage) as well as organizational factors such as marketing effort. The results suggest that it not only reduces operational cost to the bank, but also leads to higher levels of customer satisfaction due time and cost convenience offered to them. The development in the Information and Communication Technology have brought about a lot of changes in the Banking Industry wherein it has been in the form of online banking, which is now replacing the traditional banking practice. Individuals across the world use high-transaction-cost channels such as branch banking / ATMs, even when lower-cost technologies are available. High costs may help savers protect resources from the demands of others. Encouraging results have been found in terms of inculcating banking habits amongst poor given access to banking channels in their community. Trends are clearly visible, which will transform the way the banks will function in future.