Today banking is known as innovative banking. The current banking sector has come up with a lot of technological & innovative initiatives that oriented to provide a better customer services. In India the banking sector has a huge canvas of history, which covers the traditional banking practices from the time of British era to the current reforms period. India’s banking sector has been through a long journey. The use of technology has brought a revolution in the working style of the banks. The information Technology has had a positive impact on substitutes for traditional banking services. In the banking sector with networking and interconnection new challenges are arising related to security privacy and confidentiality. The Banks will begin to use the technology to provide the better quality services. The information technology has made convenient for customers to do their banking from geographically diverse places which earlier remain uncovered. In this paper, an attempt is made to explain the changing current banking scenario. The study also identifies the challenges and opportunities of Indian banking sector.
Dr. Ganesh Rajendra Walunj (Mon,) studied this question.
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