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VOL. 9, ISSUE 6 (2023)
Evolution of technology in Indian banking sector
Authors
Ram Milan, Krishna Kumar Kasaudhan
Abstract
Since its establishment, the Indian banking sector has operated in a
conventional manner. Indian banks made an effort to improve their circumstances
through the development and application of technology, although they were
mostly dependent on technological transfer from foreign banks. However, today's
banking system is centered on giving the general public timely,
well-coordinated, and efficient financial services. The
Indian banking system is undergoing a redesign as a result of concerted
attempts to increase the speed of the banking sector's digitization. When it
comes to technological advancements, India's Aadhar Enabled Payment System
(AEPS) and UPI-based remittance system are well ahead of those implemented by
many other countries. In this paper we will discuss how India's digital
transformation has improved financial services, made transactions easier, and
encouraged the use of cutting-edge solutions.
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Pages:53-56
How to cite this article:
Ram Milan, Krishna Kumar Kasaudhan "Evolution of technology in Indian banking sector". International Journal of Commerce and Management Research, Vol 9, Issue 6, 2023, Pages 53-56
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