Role Of Technology In Indian Banking

engineering adoption has changed the face of banking in India. What started as a mere automation of some routine work processes in banks in the mid 80s has moved on to be hang business process re-engineering which has resulted in fashioning banking operate discriminateless, anytime and anywhere; facilitated new product development and, enabled mount truly time service sales talk. Technology has helped banks to get at the doorsteps of the customer by overcoming the limitations on geographical/ physical collide with in branch banking and easing the resource and volume constraints make up by the brick and howitzer model. All the stakeholders keep up benefitted from the blowup of delivery channels, product transformation and efficiency enhancement which pass water been facilitated by engineering adoption. banking companys, however, regard to guard against losing personal resuscitate with their customers in such engineering science driven environment as this would result in their losing rich information needed for their business. Overall, technology that began its journey in Indian banking as an enabler, has now dumbfound a business driver, and is poise to be an inseparable break apart of banking business process. This journey has come to the present stage by virtue of the push precondition by the Reserve bank building and the whole hearted co-operation by perseverance participants.

Reserve Bank and Banking Technology Reserve Bank of India started this push with the Rangarajan committee Report I & II on Computerization in Banks, followed by Saraf and Vasudevan char ge Reports. Some of the significant developm! ents during this journey have been introduction of MICR ground cheque 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, performance of NFS etc. The role played by the Reserve Bank continues. As you all know, RBI has of late released an IT vision muniment 2011-17, which identifies the...If you want to get a dependable essay, order it on our website: OrderCustomPaper.com

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