On Line Banking

On identify Banking Services Banking heavens is the backbone of the countrys economy. They are the elements of well-disposed and economic victimization of the nation. They are the pillars of support to the growth and development of the country. The banking sector probably is the most important financial sector not just in terms of turnover, profits and enjoyment but also in its vital impact on the other spheres of the economy. In the five decades since independence, banking in India has evolved through iv distinct phases. During fourth phase, also called as reform phase, recommendations of the Narasimham delegacy (1991) paved the way for the reform phase in banking. all-important(prenominal) initiatives with regard to the reform of the banking system were taken in this phase. classic among these have been the introduction of bracing accounting and prudential norms relating to income recognition, provisioning and jacket adequacy, de regulation of interest rates and easing of norms for entry in the field of banking. Entry of new banks resulted in a ikon shift in the ways of banking in India. The increment controversy, growing expectations led to increased awareness amongst banks on the role and brilliance of technology in banking.

The arrival of foreign and private banks with their sea captain state of the art technology based services pushed Indian banks also to follow suit by going in for the latest technologies so as to meet the threat of competition and retain their customer base. Indian banking industry today is in the midst of an IT solution. A combination of regulatory and competition reasons, have led to increasing importance of the total banking automation in the banking industry. Technology has opened up new markets, new products, new services and efficient delivery channels for the banking industry. On line electronics banking, mobile banking and internet banking are just a some examples. Due to the emergence of new technologies and on-line... If you want to get a full essay, order it on our website: Orderessay

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