EMERGING TRENDS IN BLOCKCHAIN AND THEIR IMPACT ON BANKING OPERATIONS IN INDIA

Blockchain technology has emerged as a revolutionary tool with the potential to transform banking operations globally, including in India. Characterized by decentralization, immutability, and transparency, blockchain enables secure, efficient, and transparent financial transactions while reducing reliance on intermediaries. In India, banks are increasingly exploring blockchain for applications such as cross-border payments, trade finance, digital identity verification, smart contracts, and asset tokenization. This article examines the emerging trends in blockchain adoption within the Indian banking sector and analyzes its impact on operational efficiency, security, regulatory compliance, and customer experience. The study also highlights key challenges, including technological complexity, regulatory uncertainty, high implementation costs, and organizational resistance, while outlining opportunities for financial inclusion, innovation, and interbank collaboration. The findings suggest that despite existing challenges, blockchain offers significant prospects for modernizing Indian banking, enhancing transparency, and fostering sustainable growth in the digital economy.