STUDY ON ROLE OF DIGITIZATION IN INDIAN BANKING INDUSTRY

Banking is the major Part of Indian market, from ancient period the banking is going on in every part of the world and likewise many major and crucial changes are taking place in the Banking Industry. In current scenario, the demand of banking is anytime, anywhere banking, which requires innovative robust secure optimized. Digital transformation is moving from traditional banking to digital banking. This transformation leads to the major changes in the organizations as well as from the point of view of customers. This Paper covers all the role of digitization in Indian banking industry, differentiated between traditional banking and digital banking in India, latest trends of digital banking in India, technological milestones in Indian banking also the transformation in Banks condition. The study is based on secondary data. The data has been extracted from the various sources like research articles, publications from government of India, and authenticated websites. The study found that, digital banking has reduced the operating costs of banks. Digital Banking made it possible for banks to charge lower fees for services they offer higher interest rates for deposits. Customers are more in favour of Digital Banking instead of Traditional Banking because of anytime, anywhere feature. Lower operating costs meant more profits for the banks. The study also found that, digital banking is having enormous potential to change the financial industry. Easy to use and handle is the mainstream feature and USP for Digital Banking.