New Technological Changes in Indian Banking Sector

https://doi.org/10.18535/ijsrm/v5i9.11

Authors

  • Dr.G.Anbalagan. Ph.D Head of the Department and Assistant Professor Department of Commerce Periyar University Constituent College of Arts and Science Idappadi, Indonesia
Vol. 5 No. 9 (2017)
Articles
September 10, 2017

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The new financial year in India has seen a fuel growth in the banking sector with the development of
innovations like Unified Payments Interface (UPI), adoption of cloud technology… etc. the Banking challenges of
changing needs and customer‘s insights, new regulations and creating more technological innovations for
customers in the banks. Nowadays we have E-Banking system along with currency notes. India‘s
monetary system can create a new instrument along with liquidity and safety. The Indian banking sector
where introduced Arrival of the card, introduction of Electronic Clearing Service (ECS) in 1990‘s, EFT,
RTGS, NEF, mobile banking, online banking are the various innovations in banking. This paper
highpoints out the new technological changes in Indian banking sector.