PAPER ID:IJIM/V.5(VI)/55-58/7

AUTHOR: Anil Garg

TITLE : TECHNOLOGICAL INNOVATIONS IN INDIAN BANKING SECTOR

ABSTRACT: The Indian banking system impacts millions of people. And it’s expanding at an incredible rate. Due to developments in the worldwide financial system, the function of banking in the context of financial intermediary activities has undergone a fundamental upheaval during the previous three decades. In the last decade, India’s banking industry has seen essential financial developments, as well as initiatives that have increased financial inclusion initiatives. RTGS, ATM, NEFT, EFT, ECG,  internet banking,  free advising services, Retail banking, debit and credit cards, telephone and mobile banking, and many more value-added services and products are a few examples of banking and financial services developments. Globalization of financial systems, decentralization, and technological improvement have all driven financial creativity. Due to increased competition and a broader range of hazards, financial innovation has become essential to better address the various requirements of financial system competitors.

KEYWORDS: Financial innovations, Indian banking, ATM, technological changes, financial inclusion

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