C.PARAMASIVAN - INCLUSIVE BANKING

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C.PARAMASIVAN - INCLUSIVE BANKING

  1. 1. C.PARAMASIVAN,Ph.D Assistant Professor of Commerce Periyar EVR College Tiruchirappalli-620023
  2. 2. TOPIC TO BE COVERED Introduction Banking in India banking Technology Inclusive banking  Suggestions Conclusion
  3. 3. Introduction  Information technology is one of the most important facilitators for the transformation of the Indian banking industry.  The technological evolution of the Indian banking industry directed by the various committees set up by the RBI and the government of India .  Ultimate success of IT is to reach the banking services to unreached people in the country.
  4. 4. Banking in India Commercial Banks Public Sector Banks (26) Nationalized Banks (19+1) SBI & Associates Banks (1+5) Private Sector Banks (20) Old Pvt SB (13) New Pvt SB (7) Foreign Banks (40)
  5. 5. Banking Technology  Computerization of banking industry.  Satellite Banking  Automatic Teller Machines  Internet Banking  Phone Banking  Mobile Banking  Card Based Delivery Systems  Payment and Settlement Systems  Electronic Clearing Service  Electronic Funds Transfer Systems  Real Time Gross Settlement (RTGS)
  6. 6. Inclusive banking  Modern era is inclusivism  Inclusive growth focus on Inclusive Finance Inclusive Banking Inclusive Education Inclusive Health Care Inclusive Science & Technology Inclusive banking initiated by RBI in 2006 Providing banking services at an affordable/free of cost to unreached people.
  7. 7. Inclusive banking -Through  Opening of no-frills accounts  Relaxation on know-your-customer (KYC) norms  Business correspondents (BCs)  Use of Technology  General credit cards  Simplified branch authorization  Opening of branches in unbanked rural centers
  8. 8. Suggestions  More than 60% of people do not have bank account  Providing banking services is the way to achieve inclusive growth.  Using technology is the effective way to inclusive banking  Mobile banking is the effective medium of inclusive banking  Bankers must be honest in inclusive banking
  9. 9. Conclusion  From enabling banking services to driving transformation in the Industry.  Information Technology course do promise to change the pace of banking to the next few years.  Mobile bank and internet banking are going to make indoor in the banking sector in the near future.  Inclusive banking through technology is the only way for inclusive grouts of the country.
  10. 10. Thank you

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