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The collaboration suite of cyber criminals Ferrying digital banking to Lakshadweep Growing gainfully Fund healthcare clinics in villages... Targets continue to be ad hoc Holy or unholy? Rationalised What is the priority – mergers or NPA reduction? Big bank merger, bigger expectations Small finance payment banks... Ernakulam excels... Small is ‘more’ beautiful LVB- A supermarket of financial services Anytime banking to anywhere banking Drop in SLR- sparing lendable resources Stage set for Indian ‘avatar’ of foreign banks Cut in repo rate – lower than expected Governance in Reverse Gear? One down in private sector A development bank for BRICS Capital base of regional rural banks raised Reaching the Unreached… A new development bank rising in the east… Merger mania haunts banks Needed a Banking Atlas Too big to fail and too small to sail Aadhaar, niraadhaar and banking Banking overhauling or reorganisation? Who is the real beneficiary? Bank deposits account for 46.3 per cent of household savings New capitals of Migrant banks A bank for women, by women Indian customers are tech savvy Banking on Risk Financial inclusion vs unclaimed deposits Growing volume of stressed assets… Insatiable appetite for credit How ‘secure’ are the secured loans? Perhaps small is more beautiful than big! Smart banking in smart cities It’s a war on black money, support it. Just 660 days! Target over-ambitious... How okay are new banks? Another route for achieving financial inclusion Mega merger is on Monetary policy continues to adopt dis-inflationary path Why any time money? Why priority status? Greet Lakshmi the banking robot Hesitancy in announcing year-end results The paradox: clamour for the Goliath and David New bank licences, at last... All that glitters is not gold... Payment banks have arrived United India Insurance - Rs 110 crore losses have been claimed till now due to floods in Tamil Nadu Good, bad and ugly Grows Bigger Drastic decline in asset quality Nothing much can happen…. Managing NPAs... Banking in Telangana Thirty more cities seek to become SMART Cautious and considerate Bottomlines shrink, bad loans rise... Lacklustre credit expansion Reaching out: is it slowing down? Cradle of banks to a smart city... From lazy banking to easy banking Small finance banks offer high interest rates Emerging crisis Well-lived... Two banks: their jubilees and performances
 
Indian customers are tech savvy
Despite the remarkable progress made by the IT sector in India, the rate of adoption of IT-based banking services by bank customers has been slow.

Things are changing now after the introduction of Core Banking Solutions (CBS). The size of customer-base is expanding and the banks’ service points, both brick and mortar branches and virtual branches, are steadily on the increase. Under the branchless banking mode, there are 337,678 outlets, most of which are in rural areas. A small electronic gadget has entered rural India through this model, operated by the Business Correspondents at her/his residence.

The number of credit cards has gone up to 19 million and debit cards outnumber them at a whopping 394 million. According to Reserve Bank data, the number of bank customers using mobile banking has increased from 12.96 million in 2011-12 to 35.53 million in 2013-14, registering an increase of 58 per cent. The value of the annual transactions has gone up from Rs.18.21 billion to Rs.224.38 billion during this period of three years. Rate of growth of Debit card usage has been higher at 28 per cent as against 25 per cent in the case of credit cards during the last three years.

Traditionally bank cheques, demand drafts and travelers’ cheques were means available to bank customers for making payments, locally or out-station locations. With the advent of digital banking, the utility of these instruments of payments has undergone remarkable changes. Travellers’ cheques are almost out of circulation and are being replaced by Credit cards, which can be used at international levels also. Demand drafts are also losing their relevance. There is a visible shift from cash payments to electronic payments. Payments by cheque even for outstation receivers are now free of cost and the amounts are credited immediately. Transactions through real time gross settlement have increased by 18.38 per cent in terms of volume and by 8.48 per cent in value terms during the current year.

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