Innovations in Indian Banking Sector

Abstract

Indian banking sector has come a long way right from its inception in the 18th century. The revolution in the banking sector led to the introduction of Automated Teller Machines, Debit & Credit cards, NEFT, RTGS, internet banking etc. But the technological advancements all over the world has created a pressure for the use of better technology in the banking sector. This paper highlights different innovative products and services offered by Indian banks. The statistics quoted is taken from secondary sources. Towards the end, this paper does a critical analysis of the level of acceptance and adoption of these innovations by the banking customers. For this analysis primary data has been used. This paper is descriptive in nature and aims to illuminate the knowledge of the readers.