Innovations and technology in banking sector in India

Banking sector is playing pivotal role for improving growth rate of economy in India. To accelerate the growth rate in the Banking sector technology plays key role. The technology usage in the banking operations has been increasing day by day because of heavy competition among the banks and delay in realization is a common feature. In addition banks have the problems of acquisition of funds from different sources so that it will be typical to spread the banking services to other areas because of heavy maintenance. This research paper basically focuses on how the banking sector growth rate will be improved by adding of technology in the banking operations. It is very typical to spread the banking services through direct channels like establishment or spreading branches to other areas because it is involved much cost and time. When techno-bank products like CBS, ECS, ATMs, Mobile Banking, EFT, E-cheques reduces costs and improves efficiency.