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Indian banking industry - Dissertation Example
Author : ubaldogreenfeld
Finance & Accounting
Pages 18 (4518 words)
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 intention of this study is the banking industry of India. 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. During different time periods the banking sector of India has been facing a volatile environment and because of this there have been shift from majority of private ownership to nationalism and now it is moving towards the greater liberalization. The government knows that there is an important role of private and foreign players in the banking industry as there is huge competition. During the period of evolution the banking industry of India has witnessed immense development in terms of regulations, new and unique products and services offered which facilitate people and attract them towards itself, ownership structure and the technology deployed. Nowadays Indian banks are continuously focusing on the introduction of new services offered in order to meet their customer expectations. ...