"Digitalisation" has become the new trend in every industry. The banking sector is moving toward digitization in India. Banks are offering digital facilities to their customers. Digitalization adoption is a major change in the banking industry. Banking industries have improved their customer service by adopting digitization. Manual procedures and activities have all been changed into digital services in the digitalization of the banking era. Due to online banking, customers now have access to banks 24 hours in a day. Customers no longer need to keep cash on hand and they can make a payment anytime using an online payment system at any location. Digitalization of banking has resulted in cost savings tools for the banking industries and it resulted in to increase in revenue. Digitalization of banking is customer-friendly therefore it takes place of traditional banking. India is moving towards a cashless economy. Digitalization of banking plays an important role to move India towards a cashless economy. At the same time, the digital revolution faced digital challenges therefore financial stability, as well as consumer protection, is an important aspect for the banking sector while the digitalizing banking sector.