“A advancing, enhancing and turning out with new



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India’s managing an account segments has made quick
walks in improving and make even itself to the new focused business condition.
Indian Banking Industry is amidst the Information Technology Revolution and its
progressions has advanced the opposition among the Banks around the world.
Indian financial condition is seeing way breaking change measures. The money
related area, of which the managing an account industry is the biggest player,
has likewise been experiencing a transformative CHECK MY ESSAYchange. Today, we are having a
genuinely very much created managing an account framework with various classes
of banks – open segment banks, remote banks, private area banks – both old and
new age, local provincial banks and co-agent keeps money with the Reserve Bank
of India as the wellspring Head of the framework. Amid the most recent a long
time since 1969, enormous changes have occurred in the keeping money industry.
The banks have shed their conventional capacities and have been advancing,
enhancing and turning out with new kinds of the administrations to oblige the
developing needs of their clients.

Banking sector is the key player of an economy.
Since origin this sector has gone through many changes. People today are highly
bankable. So there have been many changes and innovations in this sector. Many
reforms have been made. Banking is now confined not only in retail banking.
Shape of banking has been modified and to meet the demand of people E-banking,
Islmaic banking etc have been invented. Banking products has been modernized
and people are now enjoying so many banking products. This paper focuses on all
the changes and trends experienced by banking sector.


is one of the best 10 economies all around, with tremendous potential for the
managing an account segment to develop. The most recent decade saw a colossal
upsurge in exchanges through ATMs, and Internet and portable keeping money. In
2014, the nation’s Rs 81 trillion (US$ 1.34 trillion) managing an account
industry is set for a more noteworthy change. Two new banks have effectively
gotten licenses from the legislature. Besides, the Reserve Bank of India’s
(RBI) new standards will give motivating forces to banks to spot potential
awful credits and make restorative strides that will check the acts of rebel

Indian government’s part in extending the saving money industry has been
critical. Through the Financial Inclusion Plan (FY 10– 13), keeping money
availability in the nation expanded more than three-crease to 211,234 towns in
2013 from 67,694 toward the start of the arrangement.

are also looking at new ways to attract customers. In September, 2013, ICICI
bank leveraged the popularity of the social platform, and launched its Facebook
banking service, Pockets. The service enables customers to transfer funds and
pay bills from within the website.



Money related area change has been started in such
huge numbers of nations with a specific end goal to accomplish the monetary
advancement. Imperative issue is currently whether there exists any association
between the improvement and change; and whether money related changes in
creating nations empower development. In spite of the fact that few scholastic
writing and observational investigations demonstrate that monetary change
creates money related framework by enhancing saving money industry’s
aggressiveness, activation of funds, and assignment of productivity whereby accomplishing
monetary development (Besanko and Thakor, 1992; Claessens and Laeven, 2004),
there are restricted examinations those show budgetary changes are troublesome
and expands the weakness of the monetary framework (Rajan, 1992; Allen and
Gale, 2000).

Literatures analyze several aspects of banking
sector reforms and show its consequences in different countries. Khan and Aftab
(1994) reviewed the effect of denationalization and privatization aspects of
financial reforms in Pakistan. They conclude that denationalization of banks
improved performance of these banks in terms of growth of assets, recovery of
loans and ratio of bad loans.

Impact of banking sector reforms to the fiscal and
monetary stability of many transitional economies was assessed by Feldman and
Wagnar (2002) and they observed that the success of reforms significantly
contributes to the fiscal and monetary stability.

Relationship between reform and bank efficiency was
also examined by Fu and Heffernan (2008). They studied the performance of
Chinese banking sector, and reviewed the reforms and their influences on the
ROE, ROA and NIM. They found a significant relationship between profitability
and reform.

Brownbridge and Gockel (n.d.) examined necessity of
banking sector reforms in Ghana in the 1980s and evaluated its impact. They
concluded that while the reforms have brought about improvements in the banking
system, banks are now more prudently managed and supervised.


main objective of the study is to understand Banking sector.

explain the changing banking scenario

understand the emerging technological trends in banking sector in india.


The present research study is based on the analysis
of the secondary data and the research proposes to throw light on the emerging
technology trends in the banking sector. The secondary data that are mainly
used are books realted to E-Banking,Banking Services Quality, E-Commerce,
M-Commece,Infromation Tecnology, Marketing, Banking, Finance etc.

research study pertaining to the above objectives was collected and reviewed
the literature on the topic concerned.


2016 was, undoubtedly, the year of disruptions on a global scale. The events
of last year – most notably India’s demonetisation drive, the US elections and
Brexit – have begun to or are soon expected to create far-reaching impacts on
globalisation. Of these, the banking and financial sectors are the ones that
are likely to witness the most changes. Looking at the scenario in India, on
one hand are traditional banks that are still encumbered by legacy systems and
processes. On the other, a global, digital India has entered an age of
innovation with the adoption of updated technology. Nevertheless, despite their
legacy systems, Indian banks are leading the digital transformation by
constantly reinventing their business to stay ahead in this age of digital

The new financial
year can be expected to fuel growth in the banking sector with the development
of latest innovations like Unified Payments Interface (UPI), adoption of cloud
technology, etc. Some of the key technology trends that will reshape Indian
banking are as follows:  

1. Open banking

In 2017, many banks
have already introduced and are operating their open, unified solutions and
many more are likely to follow. Consequently, this will facilitate the creation
of a well-connected financial and non-financial ecosystem of multiple,
interconnected services and service providers.

The recently
launched Unified Payments Interface (UPI) by the National Payments Corporation
of India (NPCI) will particularly serve as a gateway to future innovations in
the open banking domain. UPI also promises to enable payment service platforms
to enhance their products and offerings without being bound by account
relationships. Customers today desire maximum flexibility, which unified
interoperable interface guarantees, allowing for innovation among service
providers to drive improved customer experiences.

2. Cloud technology

Cloud computing
is the one technology that supports many other disruptive technologies such as
Big Data, artificial intelligence (AI), blockchain, IoT. The more progressive
banks around the world have already made significant headway with the adoption
of cloud computing, and Indian banks are fast warming up to its many benefits.
They have begun to realise the degree of agility it brings into business, a
fact that has already been evident through the success of fintech companies. As
a result, business models for banks and fintech companies in the future are
expected to give much greater emphasis to cloud computing. Demonetisation has
propelled India’s move towards being a cashless society, or at least a less cash-dependent
society; cloud technology will provide banks the much-needed bandwidth to deal
with the rising demand for and scale of digital transactions.

3. Blockchain

Blockchain will
be a substantial force enabling banks through the process of reinvention and
satisfy increasing customer demands. However, this will not be the year when
blockchain goes mainstream, but banks will take specific projects from pilot to
production stage and power inter-organisational processes through blockchain. A
partnership between Emirates NBD and ICICI Bank announced in October
2016 will see the launch of a blockchain pilot network to process
international remittances and trade finance and is expected to herald the
transition of blockchain into mainstream banking in the country.

4. Artificial Intelligence

intelligence (AI) has the potential to transform both front office and back
office operations with its self-improving programs. The brilliance of AI has
already been evident in the enhanced customer experiences and seamless,
differentiated services on digital channels. It has also helped in creating
advanced security measures by integrating with banking infrastructure. The use
of intelligent digital assistants is now common in some of the more developed
banking markets like US, Japan and Hong Kong. The self-learning capabilities of
these programs help them get better with every subsequent interaction.

5. Simplifying banking architecture

The foundation
for the integration and development of any of the above technologies will be
the simplification of banking architecture. Banks will gradually break down
their architecture into components in place of the conventional monolithic
structure. Simply put, complex architecture will be split into smaller
fragments for easy deployment and upgradation of certain functionalities.
Besides enabling agile modernisation to keep up with technological trends,
compartmentalisation will also allow to mitigate risks associated with specific
projects. In addition, banks will be able to enhance their capabilities further
through the implementation of enterprise-class applications.

The mobile-first
strategy has been adopted by many Indian banks to provide customised offerings
through mobile apps. There are other methods of customer interaction besides
apps such as smart virtual personal assistants on mobiles that can drive
greater, more interactive customer engagement. New-age service providers are
leading by example; Ola Cabs now allows customers to make bookings through
Siri. So, it wouldn’t come as a surprise if Siri soon helps you move money
around or open a new fixed deposit account with your bank.

The Indian
government, with the demonetisation initiative asserted its plans to transform
India from a cash-based to a digital economy. The Goods and Services Tax
system, which is set to be effective from July 1, has been built on a largely
digital foundation and is expected to provide a considerable push to the
economy’s digitisation efforts and greatly influence future trends in


The Indian banking Industry has started providing
services electronically over the internet. These services rendered over
electronic media includes

Ø  Automatic Teller Machine(ATM)

Ø  Electronic Data interchange(EDI)

Ø  Shared Payment Network System (SPNS)

Ø  You Need Only One(YONO)

Ø  Real Time Gross Settlement(RTGS)

Ø  Electronic Fund Transfer(EFT)

Ø  Electronic Clearing Services(ECS)

Ø  Tele Banking

Ø  Phone Banking

Ø  Credit Cards

Ø  Point of Sale-POS

Ø  D-Mat Accounts


An automated teller machine (ATM) is an
electronic banking outlet, which allows customers to complete basic
transactions without the aid of a branch representative
or teller. Anyone with a credit card or debit card can
access most ATMs. The first ATM appeared in London in 1967, and in less than 50
years, ATMs spread around the globe, securing a
presence in every major country and even tiny little island nations such as
Kiribati and the Federated States of Micronesia.


EDI (Electronic Data Interchange) is the transfer of data from one
computer system to another by standardized message formatting, without the need
for human intervention. EDI permits multiple companies — possibly in different
countries — to exchange documents electronically. Data can be exchanged
through serial links and peer –to-peer networks, though most
exchanges currently rely on the Internet for connectivity.


PSNS installed by the IBA in the city of Mumbai,
enables electronic banking services like cash transactions, extended hours of
banking, utility payments, cheques, point of sale facilities  by the  SPNS can go to any ATM linked.


State Bank of India,
the country’s largest public sector bank, on 24th November 2017, launched
a unified integrated app called YONO that would offer all kinds of financial
and lifestyle products. It is an
integrated digital banking platform  to
enable users to access a variety of financial and other services such as taxi
bookings, online shopping, or medical bill payments.Currently YONO is offered
as a smartphone app for both Android and iOS.


Real Time Gross Settlement (RTGS)
is an electronic form of funds transfer where the
transmission takes place on a real time basis.In India, transfer of funds with
RTGS is done for high value transactions, the minimum amount being Rs 2 lakh.
The beneficiary account receives the funds transferred, on a real time basis.


National Electronic Funds Transfer (NEFT)
is a nation-wide payment system facilitating one-to-one funds transfer. Under
this Scheme, individuals can electronically transfer funds from
any bank branch to any individual having an account with any other bank branch
in the country participating in the Scheme.


ECS is an electronic mode of funds
transfer from one bank account to another. It can be used by institutions for
making payments such as distribution of dividend interest, salary, pension,
among others.


Telephone banking is a service provided by a bank or other
financial institution, that enables customers to perform a range of financial
transactions over thetelephone, without the need to visit a bank branch
or automated teller machine.



A credit card allows you to borrow money from your bank to make your
purchases, whether you’re buying a burger or a round-trip ticket to France. As
long as you pay back the money you borrowed within the “grace period” of 25-30
days, you don’t have to pay extra. If you don’t pay it back in that time
period, you’ll have to pay interest a percentage of the money you owe the bank
on top of what you borrowed


A POS or point of sale purchase is the
“point” where a transaction is finalized or the moment where a customer
tenders payment in exchange for goods and services. Any form of payment can be
used, such as cash, debit cards, credit cards, mobile payments and even



Indian Banks are dependable brands in Indian markets, in the days to
come, banks are relied upon to assume an extremely valuable part in the part in
the financial improvement and developing business sector will give plentiful business
chances to outfit. Human Resource Management is expecting to be of more
noteworthy significance. As managing an account in India will turn out to be
increasingly learning bolstered, human capital will rise as the finest
resources of the keeping money framework. At last managing an account is
individuals and not simply figures.



2. www.wikipedia.com

3. Banking and Current Affairs

4. International Journal of Current Research

5.International Journal of Science and Technology
and Management








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