Physical bank branches will continue to play key role in rural areas

Kotak Mahindra Bank Joint Managing Director Dipak Gupta said although retail customers have adopted phygital very fast, the non-retail customers are still dealing in cash.

Physical bank branches will continue to play an important role in rural areas, despite the adoption of digital transactions seeing a significant jump in these areas in the last 18 months, say bankers.
 

“Rural is becoming digital but it needs a physical presence. Rural will always remain a little bit physical,” IndusInd Bank Managing director and Chief Executive Officer Sumant Kathpalia said during a panel discussion at the Financial Inclusion Summit organised by The Economic Times. He was speaking on the topic - Taking Digital Banking to Rural India.

Kathpalia said in the last 18 months there has been a massive