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Article Details :: |
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| Article Name : | | | DEVELOPMENTS IN INDIAN BANKING SERVICES | | Author Name : | | | VIDHYA S. TEJAM AND P. B. PATIL | | Publisher : | | | Ashok Yakkaldevi | | Article Series No. : | | | ISRJ-27 | | Article URL : | |  | Author Profile | | Abstract : | | | As the saying goes, change is the only certainty. And it is this change that would
govern the banking industry, which is graduating from financial intermediary into risk
intermediary. The repetitive and overlapping systems and procedures have given way to
simple key-press technology, ensuring accuracy and speed of data flow to improve
overall efficiency through Knowledge Management. The emerging Information
Technology (IT) facilitates in utilising Knowledge Management effectively and
efficiently to improve both product range and service quality in the banking sector.
Technology has the potential to increase the availability and reduce the cost of
information. This is a potentially powerful force as it reinforces and at the same time
challenges one of the major core competencies of banks - information. Since banks
ultimately depend on 'information' to run their businesses, anything that affects its
availability, cost and management will always have a decisive influence on their
business. A combination of new technology, the increasing role and power of third-party
agencies such as the Credit Information Bureau of India Limited (CIBIL) and more
extensive disclosure laws will gradually erode some of the traditional information
advantages of banks. | | Keywords : | | - banking services
- technologies
- online banking
- internet banking
- customer
- services
- corporate finance
- consolidation in banks
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