Internet Banking in India
NTERNET BANKING IN INDIA: A GLIMPSE OF ITS
ADOPTION AND IMPLEMENTATION IN INDIA
REFERENCE:
Author: Sonal Chawla
Lecturer, Dept. of computer science and Applications
Punjab University, Chandigarh india
INTRODUCTION
The banking sector in India has undergone a rapid transformation. Almost a decade ago this area was limited to nationalized banks and cooperative. Then came the multinational banks, but were these limited to serve small elite. One could consider the past as the "Middle Ages" in the banking sector, in which each branch of the same bank acted as independent information silo and multichannel banking (ATMs, Net Banking, tele-banking, etc) was almost nonexistent. The main reason for this first transformation is due to improved methods developed encryption security and Internet. The second reason is that banks do not want to lose a potential market share for banks that are quick to offer their Internet services.
OBJECTIVE
The objective of this research is just comparing the modern era banking system with the old one.
EVOLUTION OF MODERN BANKING
The evolution of modern banking technology began with the use of advanced machines shipping Ledger (ALPM) in the 1980s. The Reserve Bank of India, which is a central policy under which several public sector banks, financial institutions, NBFCs etc. working in India had advised then all banks to go massive computerization branch level. Two options were raised i.e. either to automate the front office or office. Many banks opted for ALPM office automation in the first phase. Banks as State Bank of India, a public sector commercial bank, focused on automating back office in branch level. The Rangarajan Committee 1985 report said the banks had to get computerized.
The second wave of development called for Total Bank Automation (TBA) in late 1980. This automated both the front-end and back-end operations within the same branch. TBA compound total automation of a particular branch with its own database. In
ADOPTION AND IMPLEMENTATION IN INDIA
REFERENCE:
Author: Sonal Chawla
Lecturer, Dept. of computer science and Applications
Punjab University, Chandigarh india
INTRODUCTION
The banking sector in India has undergone a rapid transformation. Almost a decade ago this area was limited to nationalized banks and cooperative. Then came the multinational banks, but were these limited to serve small elite. One could consider the past as the "Middle Ages" in the banking sector, in which each branch of the same bank acted as independent information silo and multichannel banking (ATMs, Net Banking, tele-banking, etc) was almost nonexistent. The main reason for this first transformation is due to improved methods developed encryption security and Internet. The second reason is that banks do not want to lose a potential market share for banks that are quick to offer their Internet services.
OBJECTIVE
The objective of this research is just comparing the modern era banking system with the old one.
EVOLUTION OF MODERN BANKING
The evolution of modern banking technology began with the use of advanced machines shipping Ledger (ALPM) in the 1980s. The Reserve Bank of India, which is a central policy under which several public sector banks, financial institutions, NBFCs etc. working in India had advised then all banks to go massive computerization branch level. Two options were raised i.e. either to automate the front office or office. Many banks opted for ALPM office automation in the first phase. Banks as State Bank of India, a public sector commercial bank, focused on automating back office in branch level. The Rangarajan Committee 1985 report said the banks had to get computerized.
The second wave of development called for Total Bank Automation (TBA) in late 1980. This automated both the front-end and back-end operations within the same branch. TBA compound total automation of a particular branch with its own database. In