Age based analysis of Challenges of Banking Industry in India on the account of digitalization of Banks

Abstract

The banking industry is currently facing a precedence changes as if moves towards digitization. Due
to many technological revolution in the banking field there are still challenges that are to be
overcome. There is a need of new ideas and methods for accomplishing tasks on a greater role with
customer at the forefront of the future. E-banking in India is still in its early stage of growth and
development. Changing technology and tought competition have change the face of banking.
Basically electronic banking is the use of computer to retrieve and process banking data and to
initiate into transactions directly with a bank via a tele communication network. In other words the
banking is the wave of future. E-banking brings host opportunities as well as, poses new challenges
for authorities in regulating and supervising the financial system and in designing and implementing
the macro-economic policy.
Keywords : Banking Industry, Revolution, Digitalization, Changing Technology.