A Study on Digital Revolution in the Indian Banking Sector

The Banking sector plays an important role in the development of any country’s economy. The financial support required by the economy to grow and develop has been supported by a strong and sustainable banking system. The banks in India have started computer-based technology in late 1980s. A strong and healthy banking system is important requirement for economic growth. Indian banking industry, today has undergone a major change and is observing an IT revolution. Implementing the internet banking approach has benefited both the consumers as well as banks. Considering the benefits, the banks all over the globe have implemented the internet banking and banking organizations in India are no exception. The competition among the banks has led to the increasing total automation in the Indian banking industry. Digital Banking is a generic term encompassing internet banking, telephone banking, mobile banking etc. Through Digital Banking the bank wants to introduce the core concept of IT based Enabled Services. The present research paper highlights Digital Banking, Information Technology, opportunities of digital banking in the banking sector in India with a study on Digital Revolution in the Indian Banking Sector.