A Study on The Technology Enabled Banking Services with Reference To Commercial Banks in Kanyakumari District

Abstract

ABSTRACT newlineIn modern times, commercial banking occupies an important place in the newlinefinancial frame-work of every economy. Banking system is a dynamic sector of newlineeconomy. They keep changing and this continuing process of change constantly newlinechallenges those who are responsible for management of the banks and those who newlineobserve and study their performance. The nature of banking system has shifted after newlinefinancial big bang of mid 1970s and mid 1980s in the U.S.A and the U.K financial newlinemarkets respectively. The working of the commercial banks reflects such changes. newlineTransformation of commercial banking in turn is a reflection of alteration of newlineinternational credit system and greater integration of global economy. newlineGround breaking revolution in information technology (IT) has been a newlinefundamental force that influenced many industries. One of the industries which have newlinebeen greatly affected by this phenomenon is the banking industry. Information newlinetechnology has enabled banks to perform more effectively. IT also enabled them to newlineoffer some of their services through self-service technologies (SSTs). While the newlinetraditional services are delivered to the customers through the most traditional bank newlinechannel, i.e. branch office by the bank staff, the electronic services are usually newlineoffered to customers via electronic channels. Thus, new IT created e-banking. newlineE-banking facilitates an effective payment and accounting system thereby newlineenhancing the speed and delivery of banking services considerably. While e-banking newlinehas improved banks efficiency and convenience, it has also posed several new newlinechallenges. These challenges are particularly more apparent in areas of regulation newlineand supervision of banks. After 1980s the rest of world followed similar changes that newlineaffected the American and British banking system and India has been one of these newlinecountries. Indian banking and financial sector have also several critical stages of newlinetransformations over the last decade. The operating environment of banks has newlinechanged significantly in terms of liberalization of r