Financial Inclusion is widely recognised today as an effective enabler for poverty alleviation, economic development and social welfare. Cost-effective, sustainable, innovative and technology-enabled channels like digital banking, mobile banking, etc play an undeniable role in scaling up the usage of formal financial services, especially in developing countries like India. In this research paper, the authors attempt to explicate to what extent the changes in 'Behavioural Intention' and 'Actual Usage' of mobile banking services can be explained by the combination of six exogenous variables. As an original contribution of this study, 'Familiarity' is proved to be a significant factor in the domain of mobile banking. The empirical data collected through 147 questionnaires are analysed using PLS-SEM analysis (Smart PLS 3.0), One Way between groups ANOVA, and Independent samples t-Test (SPSS 22.0). © Serials Publications Pvt. Ltd.