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Technological Innovations in Indian Banking Sector
INDIAN BANKING SECTOR
Indian Banking Sector has undergone a huge
transformation in the years since
With 1995 regulation, the RBI was
proclaimed the central bank of India.
In the 1990s, greater emphasis being placed
on technology and innovation.
New concept like personal banking, retail
banking, total branch automation were
Intense competition between banks which is
going to be more severe in the coming years
and with more private players waiting to step
The choice before the customer today is far
wider in the selection of banks as well
products than ever before.
It stands for ‘Automatic Teller Machine’
It enable the customers to perform financial
In simple words, it is ‘simple to use self
It stands for ‘Real Time Gross Settlement
It is a fund transfer mechanism where
transfer of money takes place from one bank
It is primarily for large volume transaction.
The time taken for effecting funds transfer
from one account to another is normally 2
It stands for ‘National Electronic Funds
It facilitates transfer of funds to other bank
accounts in over 36000 bank branches across
It is simple, secure, safe, faster, way to
It is also known as bank card or check card.
It is an electronic card.
It issued by bank which allows bank clients
access to their account to withdraw cash.
It is a payment card.
It issued by financial company.
It allows bank clients access to their account
to withdraw cash or pay for goods and
It charge interest and are primarily used for
The Indian Banking has become stronger in
terms of capital and the number of
It has become globally competitive and
diverse aiming, at higher productivity and
The Indian Banking has improve in terms of
technology, products & services, information