A sound and effective banking system is the backbone of an economy the economy of a country can function smoothly and without many hassles if the banking system backing it is not only flexible but also capable of meeting the new challenges posed by the technology and other external as well as internal factors. Indian banking industry essaysthe banking sector reforms undertaken in india from 1992 onwards were basically aimed at ensuring the safety and soundness of financial institutions and at the same time at making the banking system strong, efficient, functionally diverse and competitive. 4 innovations in the banking industry in india in the 1990s, the banking sector in india saw greater emphasis being placed on technology and innovation banks began to use technology to provide better quality of services at greater speed.
Between 1906 and 1923, banks of india, central bank of india, bank of baroda, canara bank, indian bank and bank of mysore were set up the reserve bank of india (rbi) was established in 1935 during the first phase, the growth was very slow and banks also experienced periodic failures between 1923 and 1948. India's banking sector has made rapid strides in reforming and aligning itself to the new competitive business environment indian banking industry is the midst of an it revolution it is imperative for the indian banks to observe the latest technology and modify it to suit their environment not only banks need greatly enhanced use of. Therefore the banking sector is crucial and we want to express our views to explore how this sector can work in harmony with the real sector to achieve the desired objectives the b banking sector has been immensely benefited from the implementation of superior technology during the recent past, almost in every nation in the world.
India is experimenting with several new ideas in financial inclusion in almost all areas requiring immediate focus — banking and payment channels, technology platforms, regulatory significant progress is required in financial inclusion, as indicated clearly by the world bank findex survey 2012. Today, indian banking industry is enriched both in terms of offering value added services and delivering quality service researcher and thinkers all over the world thought that the world financial crisis would affect the indian banking sector in a serious manner. E-banking in india paper written by telephone banking and computer telephony integration (cti) became a powerful medium of delivering banking services the latest product is electronic banking, where the technology and other issues are still under evolution in order for computerization to take care of the emerging needs, the.
Banks as state bank of india, a public sector commercial bank, focused on automating back office in branch level the rangarajan committee 1985 report said the banks had to get computerized the second wave of development called for total bank automation (tba) in late 1980. While most banks are burdened by legacy systems and processes, india has leapfrogged into the era of innovation in banking by adopting the latest in technology today's digital age and hyper.
Banking on technology: india’s banking industry banking on technology: india’s banking industry all comprise a substantial percentage of the overall number of electronic transactions for private sector banks iba banking technology awards 2012-13 the iba banking technology awards was instituted by the indian banks’ association.