Abstract

CHALLENGES OF BANKING INDUSTRY IN INDIA ON THE ACCOUNT OF DIGITALIZATION OF BANKS

Dr. Jai Prakash

Volume: 5 Issue: 4 2015

Abstract:

The banking industry is currently facing a precedence change as if moves towards digitization. Due to many technological revolutions in the banking field there are still challenges that are to be overcome. There is a need of new ideas and methods for accomplishing tasks on a greater role with customer at the forefront of the future. E- banking in India is still in its early stage of growth and development. Changing technology and tough competition have change the face of banking. Basically electronic banking is the use of computer to retrieve and process banking data and to initiate into transactions directly with a bank via a tele communication network. In other words the banking is the wave of future. E-banking brings host opportunities as well as, poses new challenges for authorities in regulating and supervising the financial system and in designing and implementing the macro-economic policy.

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