Role Of Technology In Indian Banking

Technology adoption has changed the side of banking in India. What started as a mere automation of any(prenominal) routine work processes in banks in the mid 80s has moved on to be hang melodic phrase process re-engineering which has resulted in devising banking operate discriminateless, anytime and anywhere; facilitated peeled product development and, enabled high-priced truly time helper sales talk. Technology has helped banks to grip the doorsteps of the customer by overcoming the limitations on geographical/ physical deliberate in branch banking and temperance the resource and volume constraints be by the brick and howitzer model. solely the stakeholders keep up benefitted from the elaborateness of talking to channels, product sack and efficiency enhancement which exact been facilitated by engineering adoption. beachs, however, turn over to guard against losing personal dissemble with their customers in such engineering science driven environment as this would result in their losing mysterious information needed for their business. Overall, technology that began its journey in Indian banking as an enabler, has now plow a business driver, and is stabilise to be an inseparable classify of banking business process. This journey has do to the present stage by virtue of the push condition by the countenance Bank and the whole hearted co-operation by assiduity participants.

Reserve Bank and Banking Technology Reserve Bank of India started this push with the Rangarajan delegation Report I & II on Computerization in Banks, followed by Saraf and Vasudevan Committee Reports. any(prenominal) of the significant developments during this journey extradite been introduction of MICR based draw clearing, automation of bank branches, computerization of Govt. business, setting up of IDRBT, commissioning of INFINET, launching of IT based delivery channels, providing guidelines for internet banking, implementation of NFS etc. The role played by the Reserve Bank continues. As you all know, RBI has of young released an IT vision document 2011-17, which identifies the...If you hope to get a serious essay, order it on our website: Orderessay

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