BANKING BEFORE COMPUTERISATION Large no of queues in banks- Earlier, there was a major problem of long queues in the banks

s which was difficult to manage in the banks and it was time consuming process for customers too. Large no of files to record the data manually- Since, all the calculations and the transactions are to be maintained properly in the bank. The bankers use to manage all that through manually which take long time to record the data in the files. Waste of time Since, the customers has to wait in the long queues, it was waste of time for the customers and on the other hand, the bankers were not able to handle so many customers at a time also. Higher cost of transactions- the records are to be maintained in the bankers. In the case, where the transactions are made in different banks and its branches, there was higher cost of the transactions that the banks have to pay. Less efficient system- Doing work manually creates many problems such as duplicity or redundancy of the records or missing of the records was creating inefficiency in the system. Less secure- Earlier fraudulency and other cases were more. So, the banks were not secure as compared to the time of computerization.

INDIAN BANKING NOW Transparency in banking- There is more transparency in the banks now, the customers can see the transactions and check their own account information anytime 24 X 7. Narrow banking- Narrow banks can, by risk reduction measures designed into the narrow
bank, significantly reduce potential bank runs and the need for a deposit insurance provided by the central bank. It is sometimes suggested as an improvement upon fractional reserve banking.

Relationship Banking- It is a strategy used by banks to enhance their profitability. They

accomplish this by cross-selling financial products and services to strengthen their relationships with customers and increase customer loyalty. Relationship banking involves offering customers a broad array of financial products and services that go beyond simple checking and savings accounts.

Retail/ personal/ private banking- Retail banking refers to banking in which banking institutions execute transactions directly with consumers, rather than corporations or other banks. Services offered include: savings and transactional accounts, mortgages, personal loans, debit cards, credit cards, and so forth. Hi-tech banking- Banks around the country are using systems that allow business customers to make deposits from their office computers. We explore this and other tech advances in the banking industry

E-age banking- It is now possible to pay bills online through visa bill pay site which integrates
through Bank to securely transfer funds from your account to the biller.

Mobile/ Phone banking-The customers are now able to access their accounts in their mobile phones anytime anywhere Network banking- The network banking has made it possible to reach to rural areas through proper channel and networking. Virtual banking- Financial institution that offers deposit and withdrawal facilities, and other banking services, throughautomated teller machines or other devices, without having a physical walk-in premises. Universal banking- Banking that includes investment services in addition to services related
to savings and loans

Online/ Internet banking These days the customers can also use e-banking through the use of internet and can easily do transaction like transfer of funds, etc.

WHY TECHNOLOGY IN BANKS Make banks customer centric- With the help of technology, the system is made centralized the customers are able to access the information about the account anytime in any place. Provide services/ products across a range of channels- The banks can now provide the services in any part of the country whether it is rural, urban or semi-urban area of the country. To be futuristic and have time value its dealing with customers- Every banks wants to have a long term relationship with the customers, hence technology helps in maintaining the records of the customers with full privacy and secrecy is also maintained in the banks through the technology.