ASSESSING THE IMPACT OF DIGITAL BANKING INNOVATIONS ON TRANSACTION SPEED AND FINANCIAL SERVICE ACCESSIBILITY FOR ENTREPRENEURS: CHALLENGES AND PERSPECTIVES IN DELHI NCR, INDIA

Abstract

This study examines how digital banking innovations have reshaped transaction speed (Ts) and financial service accessibility for entrepreneurs in the Delhi National Capital Region (NCR). Employing a mixed-methods design which includes a structured survey of 300 SMEs across Delhi, Noida, Gurugram, Ghaziabad, and Faridabad, as well as 20 in-depth interviews with bank and fintech executives the research quantifies end-to-end transaction times and evaluates an accessibility index reflecting availability, affordability, and usability of digital services. Drawing on global frameworks (Ts = f(Di, Ip, Ud, Gd, Ri, Bd); Af = f(Di, Ip, Ud, Gd, Ri, Bd)), the study contextualizes local findings within international best practices. Results indicate that adoption of UPI, e-KYC, and neo-bank platforms reduces average loan disbursement times from 10 days to under 48 hours and elevates the accessibility index by 25% compared to traditional channels. However, persistent barriers digital literacy gaps, intermittent connectivity, and complex KYC norms limit full uptake. Insights from participant interviews underscore the need for user-centric interface design, robust cybersecurity measures, and targeted regulatory reforms. This research contributes to both academic understanding and policy by offering evidence-based recommendations for banks, fintech firms, and regulators to optimize digital banking ecosystems for enhanced speed and inclusion.