This project is analytical and doctrinal method of research, based on primary source i.e. the Indian Constitution; and secondary sources of data i.e., books and journal, website etc. Other references as guided by faculty on “ROLE OF TECHNOLOGY IN BANKING SECTOR” were primarily helpful for the completion of this project.
TITLE: The title of the project topic is “ROLE OF TECHNOLOGY IN BANKING SECTOR”.
SOURCES: To complete this project I used books of various authors, journals which are available in the library of HNLU.
METHOD OF RESEARCH: The research has been done on doctrinal method, which is the secondary source of data collection.
TIME LIMIT: The research has been completed in approximately maximum one month.
Ever since the nationalization of banks in India, this sector has been growing without Leaps and bounces and catering to the needs of various segments of the society. In recent times, the Banking Sector has been making rapid straights by using information technology as a platform and endeavoring to scale higher heights. An attempt has been made in this paper to examine various innovative instruments that have been introduced by Banks in recent times. Liberalization and Information technology has attracted many foreign banks to India, thereby opening up new markets, new products and efficient delivery channels for the banking industry. In the development of Indian Economy, Banking sector plays a very important and crucial role. With the use of technology there had been an increase in penetration, productivity and efficiency. It has not only increased the cost effectiveness but also has helped in making small value transactions viable. It also enhances choices, creates new markets, and improves productivity and efficiency. It has been noticed that financial markets have turned into a buyer‘s markets in India .Commercial Banks in India are now becoming a one-stop Supermarket. The focus is...