Role of Information Technology in Banking sector: A study with special reference to Chhattisgarh State

Abstract

Banks in India are now becoming a one-stop Supermarket. The focus is shifting from mass banking to class banking with the introduction of value added and customized products. Technology allows banks to create what looks like a branch in a business building‘s lobby without having to hire manpower for manual operations. The branches are running on the concept of 24 X 7 working, made possible by the use of Tele banking, ATMs, Internet banking, Mobile banking and E - banking. This technology driven delivery channels are being used to reach out to maximum number of customers at lower cost and in most efficient manner. Technology in Indian banking has evolved substantially from the days of back office automation to today's online, centralized and integrated solutions. The purpose of this study is to identify the relationship between new technology implementation in banking sector and customers approach i.e. how they adopt the modern technologies in Banking sector. For this study, the response was collected from the various Banks of Chhattisgarh State under the regulation of Reserve Bank of India. A simple percentage analysis will be done to analyze the primary data of sample size 100.