DIGITAL TRANSFORMATION OF FINANCIAL SERVICES IN PUBLIC SECTOR BANKS: A COMPARATIVE STUDY OF BANK OF INDIA AND BANK OF MAHARASHTRA

The rapid evolution of digital technologies has significantly transformed the operational and service frameworks of public sector banks in India. This study examines the extent and impact of digital transformation in Bank of India and Bank of Maharashtra over the period 2014–2024. The research adopts a descriptive and comparative approach using secondary data from annual reports, Reserve Bank of India publications, and relevant academic literature. The study integrates tabular and conceptual analysis to evaluate technological adoption, service delivery efficiency, and financial inclusion. The findings reveal that digital transformation has enhanced operational efficiency, reduced transaction time, and improved customer accessibility in both banks. However, Bank of India demonstrates a more innovation-driven approach, while Bank of Maharashtra emphasizes inclusive digital growth in rural and semi-urban regions. The study concludes that digital transformation is a key driver of competitiveness and sustainability in public sector banking, although challenges such as cybersecurity risks and digital literacy gaps persist..