An Evaluation of Mobile Banking Revolution in India: A Study of Behavioural Matrix through Utaut2 Model

Tania Guharay

Department of Commerce, Ravenshaw University, Cuttack-753003, India.

Puja Tripathy

Department of Commerce, Ravenshaw University, Cuttack-753003, India.

Kishore Kumar Das *

Department of Commerce, Ravenshaw University, Cuttack-753003, India.

*Author to whom correspondence should be addressed.


Aims: The study aims to comprehensively explores Mobile Banking Revolution in Odisha by utilizing the Unified Theory of Acceptance and Use of Technology 2 (UTAUT2) model to analyze the behavioral matrix of individuals' adoption and usage patterns. It also aims to provide insights on what motivates people to use mobile banking services and what keeps them using it.

Sample: Data on individuals’ demographic, including gender, age, and education, were recorded using descriptive parameters. 200 from 220 questions that were handed out were returned in complete form. But 192 surveys were reliable enough to use in the statistical analysis.

Study Design: The study employs a quantitative research approach to investigate the adoption of mobile banking services in the context of India's financial sector.

Place and Duration of the Study: Sample: Residents of Odisha. Between February 2023 to June 2023.

Methodology: The study sampled 192 Odisha residents who used m-banking services as respondents using a questionnaire survey. SmartPLS software was used to analyse the primary data that had been gathered.

Results: All the factors have significant relation with intention in adoption. The application of the UTAUT2 model was demonstrated within the framework of the investigation.

Conclusion: This study focused on the state of Odisha and explored the rapidly changing environment of mobile banking usage in the context of India's financial industry. The study investigated the complex web of factors that influence consumers' behavioural intents and actions in accepting mobile banking services via the perspective of the expanded Unified Theory of Acceptance and Use of Technology 2 (UTAUT2) model.

Recommendation: Through the UTAUT2 model, this study greatly advances our knowledge of the behavioural aspects of India's mobile banking boom. Its recommendations can help researchers, financial institutions, and policymakers maximise mobile banking's potential for widespread adoption and greater financial inclusion.

Keywords: Mobile banking, UTAUT2, behavioural intention, technology, SEM

How to Cite

Guharay , T., Tripathy , P., & Das , K. K. (2023). An Evaluation of Mobile Banking Revolution in India: A Study of Behavioural Matrix through Utaut2 Model. Asian Journal of Economics, Business and Accounting, 23(20), 92–102.


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