The impact of information technology in Banking System (A Case Study in Telangana Gramina Bank, Telangana)

We are now in information age that is characterized by an ever-changing information technology revolution and an information superhighway on which every corporate entity and profession must more, if it is to survive in the 21st century. The sector that has been most radically affected by the information technology developments is the banking system. The information technology has become a critical business resource because its absence could result in poor decisions and ultimately business failure.

It is information technology which enables banks in meeting such high expectations of the customers who are more demanding and are also more techno-savvy compared to their counterparts of the yester years. They demand instant, anytime and anywhere banking facilities. This has, however, now given way to large scale usage in services aimed at the customer of the banks. The present paper reveals the impact of IT on new delivery channels--in the form of Automated Teller Machines, Net Banking, Mobile Banking and the like. Further, IT deployment has assumed such high levels that it is no longer possible for banks to manage their IT implementations on a standalone basis with IT revolution, banks are increasingly interconnecting their computer systems not only across branches in a city but also to other geographic locations with high-speed network infrastructure, and setting up local area and wide area networks and connecting them to the Internet.