E banking in India

banking

NATIONAL CONFERENCE ON EMERGING TRENDS IN BUSINESS: Social and Legal issues in India

With the revolutionary changes in the communication engineering the way banks used to operate has changed due to advent of internet in banking institutions. The implementation of internet in banking organizations has modernized the banks. The internet banking approach has benefited both the customers as well as banks. Today a considerable volume of the banking happens while you are sipping coffee or attending an important call. ATM’s are at your doorstep. Banking services are accessible 24*7. There are more smart cards in your wallet than currency notes. Banks today operate in a highly globalized, liberalized, privatized & a competitive environment. The accounting in Banks is brought on par with Global standards. The income recognition and asset classification norms were introduced with this purpose. There is a move to merge the Banks and make them bigger with the concept of “too big not to fail”. In short the Banking industry is passing through a challenging period. In order to survive in this environment banks have to use IT and explore the possibilities of incorporating the same in all spheres of day to day Banking. The objective of the present paper is to study &analyze the progress made by Indian banking industry in adoption of technology.

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