The Indian banking industry has been on a changing path for several years and adapting the latest changes from time to time.  The changes have brought significant benefits to the customers which provided many facilities.  Let us take a view on few areas.

ANYTIME BANKING: The fixed timings and limitation of time are surpassed by the ATMs.  They enable the customer not only to withdraw their money all along the day but also concede instructions, money transfers, requisitions etc. ATM is a very good facility to the customers which is helpful to withdraw their money even on holidays.  There are about 50000 ATMs now and this number is getting increased day by day. From 01.04.2009, Reserve Bank of India has facilitated Indian customers with giving access to any ATM without any charges.

TELEBANKING: Telebanking or Telephonic bank is 24 hour banking to the customer's business place or home.  This function based on the voice processing facility, provided with the bank computers. The customer of the bank can can call the bank  at any time  and know the transactions or balances of his/her accounts.

ANYWHERE BANKING: Just as sky is the limit, the customers of Indian banks now have many facilities and Anywhere Banking is one of them.  The customer is provided with a card and he can withdraw his money anywhere he goes in India.

ONLINE BANKING: This is an extension to anywhere bank and has many more facilities. The customer of a bank can withdraw money or transact in his account from any branch of that particular bank anywhere in India.  With the advent of core banking facility this is possible and it is a wonderful faciltiy offered by Indian banks now.

RTGS/NEFT: Real Time Gross Settlement (transactions for a value of Rs.1 lac and above) and National Electronic Funds Transfer(for transactions for a value upto Rs.1 lac) are also the latest remittance facilities provided by the Reserve Bank of India, through the  bank branches in India and any customer of any bank can send the amount online to any other customer of any other bank in India, just in hours.

The growth of advaned technology has enhanced the banking over the globe. Electonic banking products and services now enable the banks to offer their customers many more modern products and the customers are ultimately enjoying these facilties. Thanks to the technology and hats off to human brain!

 

 


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