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Finance and accounting dissertation on the indian banking industry
Finance & Accounting
Pages 15 (3765 words)
INTRODUCTION: IT has influenced changes in a number of industries. Banking industry is also one of the industries that have improved and being positively influenced by changes and advancement in the IT. IT has helped the banking industry to restructure and provide a lot more to the consumers than before.
Moreover, it has helped making transaction with the banks convenient (Kumbhar, 2011). This research study aims to analyze the evolution of IT in the banking industry of India. The banking industry of India has a long history and with better use of IT, the industry has been able to come up with different innovations and services that have helped consumers of Indian banking industry. The research study analyses the evolution and how the industry has improved and changed because of IT. BACKGROUND TO THE PROJECT: The banking industry of India has a long history. The introduction of the banking concept is attributed to the medieval Florence in the year 1937. Medici, a powerful and renowned merchant family, introduced networking system in shops through which people can easily deposit and withdraw their money from different cities. It provided the people with the facilitation of easy transfer of money while avoiding carrying large amount of cash while traveling. Initially banks in India were dealing only with the financing activities. The overall history of the Indian banking industry have seen the ears of Presidency banks, to Imperial Bank of India, and lastly to the State Bank of India. ...
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