An ICT insight of digitization of banking in India

Abstract

Digitization is basically the procedure in which all the manual or machine-driven exercises are brought out by the electronic gadgets in association with web-enabled services. In these days, the financial and banking area has a major influence on the economy of the country. Now, banks are taking control of supply of cash through the cashless, online transactions and payment gateway. These exercises are the central inspiration for digitize banking evolution of the country. It is a fact that well-constructed and developed banking area is a foundation for the development of a country. The role of ICT is very important for monetary movement. Indeed, even the digitization in banking is financial movement and is the part of information communication technology. So, ICT in banking is essential for the advancement of computerized banking. Presently, point of convergence is changing from traditional banking to smart banking. Electronic banking, mobile banking, electronic fund transfer, and other comparative items are now easily acceptable. This paper endeavors to give a genuine image of the digitization in economical segment with fundamental information study and most recent advancement.