Trends and Progress Made By Indian Banks in Adoption of Technology: A case study of HDFC Bank

Indian Banking sector has adopted many technological innovations to provide improved services to the customers. Various studies undertaken from time to time have concluded that the changes that new technologies have brought to banking and their impact on officers, employees, and customers of banks are enormous. Thus in view of the growing utilization of technology, this study has analyzed the trends and progress made by Indian banks in adoption of technology by taking a number of parameters like installation of Automated Teller Machines, issuance of Debit and Credit Cards, outward debits and inward credits through NEFT, RTGS and mobile banking. This study is carried out with the help of secondary data like Bank level annual reports and Reserve bank published reports on payment and settlement systems and information technology in Indian banks. The observations based on FY 2015 to FY 2017 authenticate that technology adoption by Indian banks in general and HDFC in particular has registered robust growth with both volumes and values growing at rapid pace.