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The banking sector is more revolutionized than ever, with advanced technologies driving a seismic change in the financial industry. This study aims to understand how digital technologies influence banking sector employees and their perception of working in an era of Banking 4.0.

This study incorporated qualitative analysis to gain different insights from diverse respondents from banking industries. A purposive sampling method was adopted, and semistructured interviews were conducted, taking a sample of 72 respondents. All the transcripts were then analyzed using NVivo.

The findings focus on challenges related to understanding technology phenomena, managing changes, infrastructure, skills, competitiveness and regulatory mechanisms. This is further followed by the favorable impact of Banking 4.0 on employees and future avenues, such as innovation in financial services, work productivity, career opportunities and change management, banking 4.0 and banking 5.0, and banking 4.0 management strategies identified as the significant findings.

This study provides guidelines for Banking 4.0 provision strategy and conceptual reference toward the development of Banking 4.0. It also supports the Enhanced Access and Service Excellence 4.0 program, driven by the Indian Bank’s Association, to focus more on digitization, automation and data analytics.

The novelty of this research provides a qualitative hierarchy of significant challenges, favorable impacts and future research avenues of Banking 4.0 in the Indian banking sector.

The study examines the association between trade (exports and imports), foreign direct investment (FDI) and economic growth in the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) countries using data from 1991 to 2019.

Augmented Dickey–Fuller (ADF) and Phillips–Perron (PP) unit root tests were applied to check the stationary of the data while the Johansen cointegration test and Vector Error Correction Model (VECM) was used to analyze long-run and short-run relationships.

The results indicate a long-run relationship between trade, FDI and economic growth in all selected countries except Bhutan. Additionally, a bidirectional causality exists between gross domestic product (GDP) and FDI in India, Bangladesh, Myanmar, Nepal, Bhutan and Sri Lanka, while unidirectional causality from GDP to FDI is observed in Thailand. Moreover, a one-way causality from exports to GDP exists in Bangladesh, Nepal, Bhutan, Sri Lanka and Myanmar, whereas a bidirectional relationship exists in India and Thailand.

This paper will be highly beneficial for regulators and policymakers in the designated economies, aiding in the formulation of FDI and trade policies that promote economic progress and development.

Most previous studies examining the relationship between macroeconomic variables have focused on developed nations. This study is the first to explore the relationship between trade (exports and imports), FDI and economic growth in the BIMSTEC countries.