Volume : III, Issue : IX, September - 2013

Role of Techology Development in Commercial Banks in India

R. Ilamathi

Abstract :

Over the last three decades the role of banking in the process of financial intermediation has been undergoing a profound transformation, owing to changes in the global financial system. India’s banking system has seen some major financial innovations in the past decade as well as steps to promote financial inclusion, schemes that aim to take banking services toyed–to–be–banked areas. The various innovations in banking and financial sector are ECS, RTGS, EFT, NEFT, ATM, Retail Banking, Debit &Credit Cards, free advisory services, implementation of standing instructions of customers, payments of utility bills, fund transfers, internet banking, telephone banking, mobile banking, selling insurance products, issue of free cheque books, traveler’s cheques and many more value added services. The major impetus for financial innovation has been globalization of financial systems, deregulation, and great advances in technologies. The purpose of present study is to analyze such effects of innovation in banking on growth and development of India.

Keywords :

Article: Download PDF   DOI : 10.36106/ijar  

Cite This Article:

R.ILAMATHI Role of Techology Development in Commercial Banks in India Indian Journal of Applied Research, Vol.III, Issue.IX September 2013

Number of Downloads : 881

References :