Banking and Mis

Information technology (IT) has become a vital part of every business organization, whether it’s a case of manufacturing, trading or any other service organization. These days email is the principal means of communication between employees, suppliers and customers. Due to information technology there is no need to keep many files. Today, most companies store digital versions of documents on servers and storage devices. These documents become instantly available to everyone in the company, regardless of their geographical location. Companies are able to store and maintain a tremendous amount of historical data economically, and employees benefit from immediate access to the documents they need. Management Information Systems (MIS) enable companies to track sales data, expenses and productivity levels. The information can be used to track profitability over time, maximize return on investment and identify areas of improvement. Companies are using IT to improve the way they design and manage customer relationships. Customer Relationship Management (CRM) systems capture every interaction a company has with a customer. The customer has a better, more focused experience and the company benefits from improved productivity.
2. Role of IT for banks
Banking sector is becoming highly competitive day by day. So banks can not break away from themselves from changing technological environment. Banks are dependent on IT based systems for almost all of their activities, although the level of sophistication and refinement in such systems may vary from bank to bank or across activities or banking Industry segments (commercial banks, cooperative banks etc.). Internet has significantly influenced delivery channels of the banks. Internet has emerged as an important medium for delivery of banking products and services. The e-banking has made the customer say good-bye to huge account registers and large paper bank accounts. Though the pace of change has been slow, yet the Indian