Information Technology in Indian Banking Sector Some Recent Developments

Abstract

The banking sector could be the backbone of the Indian economy. In today’s era, technology support is incredibly necessary for the triple-crown functioning of the banking sector. While not IT and communication, we tend to cannot accept the success and growth of the industry and economy, it’s enlarged the role of the banking sector within the Indian economy. Run batted in new rules and supporting new technology and innovation for the client within the banks. The Indian banking sector was introduced the RTGS, mobile banking, Digital Wallets, UPI, Blockchain Technology, computing, Cloud Banking, wearable Technology, Omnichannel Banking, the point of sale, square measure numerous innovations within the Indian banking sector. This paper highlights the information technology in the Indian banking sector. This paper is descriptive. Secondary information square measures collected from numerous websites, reports, and journals.