A Study on Technology Adaptation in Indian Banking

Abstract

Banks work as backbone for present business. A well-controlled banking system is the significant need for the economic
growth of any country. The technological growth and advancements has directed to paradigm shift of the whole operations
and organization of banks in India. Increase in the technology adaptation like e-banking created an enormous
transformation in terms of fulfilling customer’s divergent desires, by following the Indian government reforms. The Indian
government move towards transformation of entire society to digitally empower has led to the Astronomical growth in the
banking technology. The new developments like Unified Payments Interface [UPI] have observed a fuel growth since the
launch. This paper investigates technologies related to digital payments and trends in the digital era of banking sector of
India.