New Era of Indian banks in reference to recent trends: An Overview
Anuj Kumar Solanki
India has a large network of banks. This Bank Network is the back bone of the Economy. This sector is covered under tertiary sector as per the classification of Indian Economic Sector. Banking sector plays a very important role in the growth & development of Indian economy. Our Banking sector was not same before some decades. This sector was not good in comparison of present position. Today Banking is circulating the Innovations in the field of banking wellness and in this innovation the Information Technology (IT) Sector favouring of Indian Banking Sector for prosperity of it. Now days the banks are using latest technologies to provide their customers good services in time and at a very affordable cost with full satisfaction. Our Indian banking system follows the Branch banking, so there are many bank branches working in our country. Now banks are working with the technologies without manpower, manual work and predetermined place, these banks are working on the concept of 24X7. Therefore many services reforms occurred in the field of Indian Banking like Telephone Banking, ATM, Internet Banking, Mobile Banking, E-Banking and many more waiting to arise. Essentially the banking sector will need to setup a new innovative framework by building management and customer satisfaction with a variety of various services at a lowest cost to stay for the long time. This paper is an attempt to represent the latest recent emerging trends and the challenging conditions faced by Indian banking sector especially in reference to the Digital Era.