Emerging Trends and Challenges in Banking

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  • Topic: Bank, Online banking, Banking
  • Pages : 8 (2346 words )
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  • Published : October 1, 2012
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ges *Mr. MUTTESHA, N
**Mr. PUNITH, B.S
***Mr. THIPPESHA, M
One Day National Conference on
Innovations & research in commerce & management
SSIBM, Tumkur-05
Topic: “NEW TRENDS AND CHALLENGES IN BANKING”

*Faculty member,
DOS in commerce,
Davangere university. Shivagangothri,
Davangere.

**student. M.COM 2nd year ,
DOS in commerce,
Davangere university. Shivagangothri,
Davangere.

***student. M COM 2nd year,
DOS in commerce,
Davangere university. Shivagangothri, Davangere.

“Emerging Trends in Banking – Challenges and Opportunities” abstract:
Today banking is known as innovative banking. Information technology has given rise to new innovations in the product designing and their delivery in the banking and finance industries, customer services and customer satisfaction are their prime work. One of the most significant areas where IT has had a positive impact so on substitutes for traditional funds movement services. With the advent of electronic banking electronic funds transfer and other Similar products funds transfer within time frames which would have appeared impossible a few years ago. With networking and internet connection new challenges are arising related to security privacy and confidentiality to transactions. Finally the banking sector will need to master a new business model by building management and customer services with a variety of products and controlled cost to stay in the long run and services. Key words: E-Banking, ATM ,Internet Security, NPA, CRR,

Introduction:-
Today, we are having a fairly well developed banking system with different classes of banks – public sector banks, foreign banks, private sector banks – both old and new generation, regional rural banks and co-operative banks with the Reserve Bank of India as the fountain Head of the system. The traditional functions of banking are limited to accept deposits and to give loans and advances. Today banking is known as innovative banking. Information technology has given rise to new innovations in the product designing and their delivery in the banking and finance industries, customer services and customer satisfaction are their prime work. Current banking sector has come up with a lot of initiatives that oriented to providing a better customer services with the help of new technologies. Banking sector mirrors the larger economy its linkages to all sectors make it proxy for what is happening in the economy as a whole. Indian banking sector today has the same sense of excitement and opportunity that is evidence in the Indian Economy. The going development in the global markets offers so many opportunities to the banking sector. In the competitive banking word improvement day by day in customer services is the most useful tool for their better growth. Bank offers so many changes to access their banking and other services. Banks plays an important role in the economic development of developing countries. Economic development involves investment in various sectors of the economy. The banks collects savings for investment in various projects. In normal banking the banks perform agency services for their customers and helps economic development of the country. The purchase and sales securities, shares, make payments, receive subscription funds and collect utility bills for the Government department. There for banks save time and energy of busy peoples. Bank arranges foreign exchange for the business transactions with other countries. Banking sector are not simply collecting funds but also serve as a guide to the customer about the investment of their money.

Methodology of study:-
This study is based on the analysis of the changing banking scenario in the India with the help of secondary data collection. Secondary data:-
The secondary sources of data are banking books, annual reports of RBI, internet (websites) and research papers etc. Present scenario:-
Today role of banking...
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